Major metals trader Traxys has announced its participation in the so-called Project Vault, a newly launched $12 billion US strategic initiative designed to secure supplies of critical minerals essential for automotive, technology, aerospace, and energy industries.
The supply chain security initiative will see the establishment of the US Strategic Critical Minerals Reserve, an independently governed public‑private partnership that will store essential raw materials in facilities across the United States.
"Project Vault is designed to support domestic manufacturers from supply shocks, support U.S. production and processing of critical raw materials, and strength America’s critical minerals sector," said Export-Import Bank (EXIM) Chairman John Jovanovic. The bank has earlier agreed on a $10 billion loan to finance the procurement, while another $1.67 billion will come from private capital.
This supply chain security initiative will help the US reduce dependence on foreign‑controlled supply chains, strengthen the domestic industrial base, and ensure uninterrupted access to materials essential for advanced manufacturing and critical technologies, EXIM said in a press-release.
Traxys, Hartree Partners, and Mercuria Americas became the initial suppliers servicing the Project Vault. Traxys has been selected to manage the procurement of critical raw materials for the reserve in a bid to secure resilient supply chains amid market volatility and geopolitical disruption.
Theodor Lisovoy, Managing Editor, Rough&Polished
