Stock Markets February 2, 2026

Rare earths stocks rally after White House plan for $12 billion minerals reserve

Proposed 'Project Vault' and a $10 billion Ex-Im loan spur gains in U.S. critical-minerals names

By Nina Shah
Rare earths stocks rally after White House plan for $12 billion minerals reserve

Shares of several U.S. rare earths and critical minerals companies rose sharply after reports that the administration plans a $12 billion strategic minerals stockpile, an initiative aimed at reducing dependence on Chinese supplies. The proposal - informally referred to as Project Vault - would pair private capital with a large loan from the U.S. Export-Import Bank to procure and store minerals used in high-technology manufacturing.

Key Points

  • Reports say the administration plans a $12 billion strategic minerals stockpile called Project Vault.
  • The proposed financing would combine $1.67 billion in private capital with a $10 billion loan from the U.S. Export-Import Bank to procure and store critical minerals for U.S. manufacturers.
  • Companies tied to rare earths and critical minerals saw share-price gains, reflecting investor interest in measures to reduce dependence on Chinese production and processing.

Stocks of U.S.-listed rare earths and critical minerals companies climbed on market reports that the administration intends to create a strategic minerals stockpile worth $12 billion. The initiative, identified in media accounts as "Project Vault," triggered notable intraday gains among small-cap miners and materials names.

Among the moves reported, USA Rare Earth rose 6.5%, United States Antimony moved up 7%, and Critical Metals gained 8%. MP Materials, a leading domestic rare earths producer, increased 5.5%. Other names that rallied included Ramaco Resources, which added 2%, Trilogy Metals, up 4%, and TMC the metals company, which rose 6%.

According to the reporting, the proposed stockpile would be financed through a combination of $1.67 billion in private capital together with a $10 billion loan from the U.S. Export-Import Bank. Those funds would be used to buy and store critical minerals for American manufacturers, the story said, citing senior administration officials who were not named because the plan has not been formally announced.

Project Vault has been described as modeled on the nation’s Strategic Petroleum Reserve and would concentrate on elements such as gallium and cobalt. The reporting said those minerals are important inputs for smartphones, batteries, jet engines, and other high-technology products.

The stated objective of the proposed program is to shield U.S. manufacturers from interruptions in supply and from swings in prices for inputs. The accounts emphasized that the move forms part of broader efforts to lessen U.S. reliance on China, which currently plays a dominant role in global production and processing of rare earths and many other critical minerals used across the automotive, aerospace, and energy sectors.

Because the plan had not been publicly released at the time of the reporting, details and timing remained uncertain. Market reactions in the affected mining and materials stocks were immediate, reflecting investor focus on how a new funding and storage framework could change the domestic supply outlook for essential industrial inputs.

Risks

  • The plan had not been officially announced at the time of reporting, creating uncertainty about its final structure and implementation - this affects miners, manufacturers, and financial backers.
  • China’s current dominance in production and processing of rare earths and many critical minerals may complicate efforts to shift supply chains - a risk to sectors including automotive, aerospace, and energy.
  • Supply disruptions and price volatility for critical minerals remain concerns that the proposed stockpile aims to address, but the effectiveness and timing of that protection are unclear.

More from Stock Markets

S&P 500 Shows Signs of Tightening Range; Strategist Sees Potential for a Big Move Feb 22, 2026 Supreme Court to Clarify Reach of Helms-Burton Act in Multi-Billion Dollar Cuba Claims Feb 22, 2026 Switzerland Pulling Ahead in Early Economic Gains from AI Feb 22, 2026 Nvidia Results and Software Earnings to Test AI-Driven Market Sentiment Feb 22, 2026 Analysts Shift AI Bets: Nvidia, Amazon, Dell, Analog Devices, Shopify See Upgrades and Bullish Casework Feb 22, 2026