00:00Shares of rare-earth miners jumped on Monday after news that U.S. President Donald Trump
00:06will launch a $12 billion strategic stockpile of critical minerals.
00:12The investment marks Washington's latest attempt to offset what policymakers view as Chinese
00:17manipulation of prices for lithium, nickel, rare-earths and other critical minerals, which
00:23has stymied American mining companies for years.
00:28Shares of USA rare-earth rose as much as 16 percent, while Critical Minerals Corp gained
00:34more than 13 percent, and MP minerals added as much as 7 percent.
00:40Rare-earth minerals are essential for items ranging from electric vehicles to high-tech
00:45weaponry.
00:46First reported by Bloomberg News, the venture, called Project Vault, will combine private
00:53funding with a $10 billion loan from the U.S. Export-Import Bank.
00:58The aim is to acquire and stockpile minerals for automakers, technology companies and other
01:04U.S. manufacturers.
01:06A Trump administration official said the president is set to meet Monday with General Motors CEO
01:12Mary Barra and mining billionaire Robert Friedland, who represent both users and producers of critical
01:20minerals.
01:21The White House did not immediately respond to a request for comment.
01:25Last month, a bipartisan group of U.S. lawmakers introduced a bill to create a $2.5 billion
01:32stockpile of critical minerals, a move aimed at stabilizing market prices and encouraging
01:37domestic mining and refining.
01:41Shares of rare-earth miners jumped on Monday after news that U.S. President Donald Trump will
01:46launch a $12 billion strategic stockpile of critical minerals.
01:52The investment marks Washington's latest attempt to offset what policymakers view as Chinese manipulation
01:58of prices for lithium, nickel, rare-earths and other critical minerals, which has stymied
02:04American mining companies for years.
02:07Shares of USA rare-earth rose as much as 16 percent, while Critical Minerals Corp gained
02:13more than 13 percent, and MP minerals added as much as 7 percent.
02:20Rare-earth minerals are essential for items ranging from electric vehicles to high-tech weaponry.
02:26First reported by Bloomberg News, the venture, called Project Vault, will combine private funding
02:33with a $10 billion loan from the U.S. Export-Import Bank.
02:38The aim is to acquire and stockpile minerals for automakers, technology companies and other
02:44U.S. manufacturers.
02:46A Trump administration official said the president is set to meet Monday with General Motors CEO
02:51Mary Barra and mining billionaire Robert Friedland, who represent both users and producers of critical minerals.
03:00The White House did not immediately respond to a request for comment.
03:05Last month, a bipartisan group of U.S. lawmakers introduced a bill to create a $2.5 billion
03:11stockpile of critical minerals, a move aimed at stabilizing market prices and encouraging
03:17domestic mining and refining.
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