🏛️🌍 US launches Project Vault to secure critical minerals supply chains

Oneliner

The US has launched Project Vault, a $10 billion initiative aimed at securing critical minerals supply chains and reducing reliance on China. Over 50 countries are participating in talks to enhance access to these vital resources. Ivanhoe Mines is negotiating to supply zinc from the Democratic Republic of Congo to the US under this initiative, which aims to bolster supply chains for semiconductors and clean energy applications.

Key points

• The US has initiated Project Vault with $10 billion in funding to enhance access to critical minerals.
• Over 50 countries are participating in talks to reduce reliance on China for vital industrial inputs.
• Ivanhoe Mines is negotiating to supply zinc from the DRC to the US under this initiative.
• The project aims to bolster supply chains for semiconductors, electric vehicles, and defense applications.

Links

• Reuters: China urges dialogue to safeguard global critical minerals supply chains
• Reuters: US hosts countries for talks to weaken China's grip on critical minerals
• Reuters: Ivanhoe eyes US market for Congo zinc under Project Vault
• Deutsche Welle: Les Etats-Unis misent sur sécurité et commerce au Sahel

Facts

• Project Vault was announced on February 4, 2026, with $10 billion in funding from the U.S. Export-Import Bank.
• Over 50 countries, including South Korea and India, attended the Washington meeting on critical minerals.
• Ivanhoe Mines plans to export zinc-rich concentrate from its Kipushi mine to the US.
• The project aims to secure long-term supplies of strategic metals for defense and clean energy.

Quotes

• I think this is a recognition by the United States that it must act in concert with others to reduce its vulnerability in areas where China has supply dominance — Scott Kennedy
• The arrangement is the first step in a plan to expand into processing zinc, copper, germanium and gallium — Gecamines

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