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Project Vault, initiated by Donald Trump, seeks to create a strategic reserve of critical minerals with a $12 billion investment. The US Geological Survey revealed that Argentina and Chile supply 97% of US lithium imports, which is crucial for the electric vehicle market.

Global lithium production rose 31% in 2025, with Argentina's output increasing from 13,800 tons in 2024 to 23,000 tons in 2025. Together, Argentina and Chile hold 36% of global lithium reserves, a significant position compared to China's 60% processing capacity. The US's reliance on South American lithium highlights geopolitical dynamics in mineral supply chains.