U.S. President Donald Trump speaks before signing an executive order in the Oval Office of the White House on January 30, 2026 in Washington, DC.
Alex Wong | Getty Images
Shares of U.S.-listed rare earth mining companies soared on Monday following news that President Donald Trump is preparing a major plan to build a strategic stockpile of critical minerals.
The proposal, known as Project Vault, would launch a first-of-its-kind strategic mineral reserve designed for the U.S. private sector, White House officials said. The plan combines $1.67 billion in private capital and $10 billion in financing from the U.S. Export-Import Bank, the people said. President Trump’s move is aimed at cutting the United States’ dependence on China for materials vital to electric vehicles, defense systems and advanced technology.
MP materialThe company, which operates California’s Mountain Pass Mine, soared 6% in early trading Monday. usa rare earths Critical Metals and Critical Metals rose 13% and 12%, respectively, as investors bet the initiative could accelerate domestic demand and government-backed lending to the sector.
Bloomberg News first reported the proposal early Monday.
USA Rare Earths is already in talks with Secretary of Commerce Howard Lutnick to sell domestic mining and magnet assets to the federal government. Those discussions would ultimately lead to a proposed deal that would provide the company with approximately $1.6 billion in financing and include U.S. government equity, subject to certain conditions.
The move builds on the more direct role Washington has begun to take on in this area. Last summer, the Department of Defense signed a landmark agreement with MP Materials that includes an equity stake, a price floor and a long-term agreement to purchase specified quantities of rare earth minerals and magnets.
—CNBC’s Spencer Kimball contributed to this report.
