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The United States is launching Project Vault, a $12 billion initiative to create a strategic reserve of critical minerals, aiming to reduce dependence on China for production and processing. This project is driven by the need for essential minerals used in technology and military applications.

The US has signed agreements with Argentina, Ecuador, Paraguay, Peru, and Mexico to collaborate on critical minerals. Mexico, in particular, has significant reserves of lithium and other minerals. The initiative aims to build a supply chain that avoids reliance on Chinese processing. Experts highlight the necessity of establishing partnerships in Latin America to secure these resources.