US to launch $12bn critical minerals stockpile to counter China’s dominance

Financial Times: The US Export-Import Bank (Exim) will provide $10bn in debt financing for the effort, named Project Vault, to build up domestic stores of “essential raw materials” across the US that can be tapped by manufacturers such as carmakers.

An additional $2bn will come from private capital.

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More than a dozen companies including Lockheed Martin, General Motors, Alphabet’s Google and battery maker Clarios have already signed up to become Vault members…