The U.S. Export-Import Bank voted on a $10 billion loan on Monday — the largest loan in the bank's history — which will provide major funding for a new key mineral reserve project, "Project Vault." This initial funding, along with $1.67 billion in private capital, aims to establish a reserve of rare earths, critical minerals, and other elements, similar to the U.S. emergency oil reserve, to reduce U.S. reliance on China. "Project Vault" will support manufacturers and other businesses that need these materials, which is different from the existing key mineral reserves mainly serving national defense needs. Large automobile manufacturers, Google, and other top companies have already participated. On Monday, Trump also met with General Motors CEO Mary Barra and mining tycoon Robert Friedland.
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Original article: toutiao.com/article/1856080972243978/
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