US Government Launches $12 Billion Project Vault for Critical Metal Reserves Amidst Geopolitical Tensions
The US government has initiated Project Vault to invest $12 billion in a national reserve of critical metals, including tungsten, to reduce dependence on China. The project will utilize $10 billion in loans from the Export-Import Bank and $2 billion from private companies. American Tungsten & Antimony is actively exploring tungsten deposits in the US, notably at the Tennessee Mountain project, and aims to establish a vertically integrated supply chain for the western industry.
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In February, the US government launched Project Vault, allocating $12 billion to build a national reserve of critical metals, particularly tungsten, to decrease reliance on China, which controls about 80% of the global tungsten market. American Tungsten & Antimony is exploring the Tennessee Mountain tungsten project and plans to validate historical high-grade mineralizations.
The company aims to produce a modern resource estimate in compliance with the JORC standard. The US has invested hundreds of millions in domestic critical metal projects and plans to prohibit Chinese tungsten imports for defense purposes starting in 2027, increasing pressure on US defense contractors to establish alternative supply chains.
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