Trump launches critical minerals stockpile
In the Oval Office of the White House in Washington, D.C., on February 2, 2026, U.S. President Donald Trump speaks to the press about his critical mineral stockpile, which has $12 billion in initial financing, as Washington looks to reduce dependence on China for rare earths and other resources.
Saul Loeb | Afp | Getty Images
U.S.-listed rare earth miners rose in premarket trading on Tuesday after President Donald Trump announced he would establish a critical mineral reserve.
Critical Metals 6.3% progressed, USA Rare Earth increased by 4.7% and Multi-Purpose Materials It gained approximately 4% in value. shares Energy Fuels was 3.6% higher Idaho Strategic Resources increased by 6.2%.
The moves come after Trump on Monday outlined details of Project Vault, a strategic mineral reserve that is the first of its kind designed for the US private sector.
The plan would combine a $10 billion loan from the Export-Import Bank of the United States with $1.67 billion in private capital, according to a White House official.
China is the undisputed leader of the critical mineral supply chain, responsible for approximately 60% of the world’s rare earth mining and more than 90% of magnet production.
Rare earths, a subset of critical minerals, refer to the 17 elements in the periodic table that have an atomic structure that gives them special magnetic properties. These materials are vital components of a wide range of modern technologies, from everyday electronics such as smartphones to electric vehicles and military equipment.
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— CNBC’s Yun Li contributed to this report.
