The US Export-Import Bank has unveiled plans for Project Vault, a $12 billion initiative aimed at stockpiling critical minerals essential for electric vehicle batteries and renewable energy technologies. Initially, the project will source materials globally, including from China, which is a major supplier of these minerals. Over time, the focus will shift to prioritizing domestic production and sourcing from allied nations. Ex-Im Chief Banking Officer Brian Greeley highlighted that the project combines $2 billion in private capital with a $10 billion loan from the bank, aiming to create a buffer against supply shocks. The initiative is designed to empower US manufacturers by allowing them to influence which minerals are stored, thus facilitating better access to materials in fragmented markets. The initial stockpiling phase will depend on the availability of minerals, many of which are produced in limited locations and are heavily influenced by Chinese supply chains. As the project evolves, it plans to establish its own storage network while leveraging existing warehouse facilities controlled by trading partners.