Trump announces creation of critical mineral reserve

[BumRushDaShow]

Source: Reuters

February 2, 2026 4:43 PM EST Updated 9 hours ago


Feb 2 (Reuters) - U.S. President Donald Trump on Monday announced the creation of a critical mineral reserve.

"Today, we're launching what will be known as Project Vault to ensure that American businesses and workers are never harmed by any shortage," Trump said at the White House.

The initiative will combine $10 billion in EXIM bank financing and $2 billion from the private sector, Trump said.

U.S. Secretary of the Interior Doug Burgum said that 11 additional countries will be announced for the critical minerals trade club this week.

Read more: https://www.reuters.com/business/autos-transportation/trump-announces-creation-critical-mineral-reserve-2026-02-02/

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Short article at post time.

[Irish_Dem]

1. How much money will he make off of this grift.

Nothing he does will help the American people.

[AZJonnie]

2. No doubt other countries can join this bank too

All they have to do is send $1,000,000,000 to this numbered account in Abu Dhabi, and in two weeks, they'll be reaping the incredible benefits!

[Irish_Dem]

3. Trump doesn't even bother to hide most of his crimes.

Though some are so bad even he has to hide them.

[lonely bird]

4. Um

Where will he be getting this massive amount of rare earths? China ain’t gonna sell that much to us. The deteriorating relationship with Canada will negatively impact getting more from them.

[BumRushDaShow]

5. ...

[lonely bird]

6. True except

The costs will still be very high. We already have more reserves than Greenland but not by much. Due to the poor relationship with China we would be better off attempting to enter into a deal with Vietnam and Australia.

[BumRushDaShow]

7. You betcha!

Just like the high costs to renovate Venezuela's dilapidated oil refineries and construct new wells there as "promised" by 45 on behalf of the oil companies (who don't want to bother).

[Bobstandard]

8. Let me guess. Coal, right? Maybe some oil?

“What? Nobody wants to buy your coal? Tell you what, I’ll buy it for the “strategic reserve’ if you give me ‘a little taste’.”

[eppur_se_muova]

9. I'm sure it's all on the up and up. nt

Amazing how we've managed to do without this for a couple of centuries, but now suddenly it "needs doin'".