Trump's Plan for US Strategic Mineral Reserves Includes Brazilian Lithium and Rare Earths
US President Donald Trump's initiative to bolster domestic strategic mineral stocks may involve lithium and rare earth elements from Brazil. Known as the 'Project Vault', it will be funded with $10 billion from the Export-Import Bank of the United States (EXIM Bank).
The initiative aims to acquire and store minerals for American manufacturers to reduce dependence on China for essential technology components. The EXIM Bank has issued letters of interest for two mineral projects in Brazil, including $250 million for the Caldeira Project in Poços de Caldas (MG), focusing on rare earths.
The project has received preliminary environmental licensing and commenced pilot plant operations. Additionally, the bank expressed interest in the Bandeira Project by Lithium Ionic, also in Minas Gerais, which anticipates a $266 million debt financing. Trump's $12 billion plan to create a US Strategic Reserve for Critical Minerals was announced on February 2, 2026, following China's restrictions on exports, impacting various industries.
