Global Race to Stockpile Critical Minerals Heats Up

Project Vault and other initiatives aim to secure access to essential resources for national security and industry

Published on Feb. 25, 2026

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Governments worldwide are moving to establish strategic stockpiles and forge new partnerships to ensure access to critical minerals vital for electrification, defense, and advanced manufacturing. The U.S. has launched Project Vault, a $12 billion initiative to build a reserve of rare earths and other essential metals, while other nations like Australia, the EU, India, and South Korea are also accelerating their own stockpiling strategies. This global race for resource security is driven by concerns over China's dominance in rare-earth processing and refining, as well as broader shifts in how countries view commodity policy through the lens of national security and industrial strategy.

Why it matters

The scramble for critical minerals is reshaping global commodity policy and raising concerns about resource nationalism. Securing access to these essential materials is crucial for powering the clean energy transition, maintaining technological and military superiority, and ensuring the resilience of key industrial supply chains. However, the concentration of processing capabilities in China poses significant security vulnerabilities that governments are now seeking to address through strategic stockpiling and new partnerships.

The details

The U.S. government's $12 billion Project Vault initiative aims to build a strategic reserve of rare earths and other critical minerals. This builds on previous investments by the Trump administration in U.S. and Canadian mining and processing companies. Other nations are also accelerating their own stockpiling efforts, such as Australia's $800 million state-backed critical minerals reserve and the EU's RESourceEU strategy. India and Brazil have agreed to deepen cooperation on critical minerals, while South Korea has unveiled a $172 million critical minerals strategy focused on expanding stockpile volumes and infrastructure.

  • The White House and U.S. Export-Import Bank announced the launch of Project Vault on February 2, 2026.
  • The Trump administration made previous investments in U.S. and Canadian mining and processing companies over the past 10 months.

The players

Project Vault

A $12 billion initiative launched by the White House and U.S. Export-Import Bank to build a strategic reserve of rare earths and other critical minerals crucial for electrification, defense, and advanced manufacturing.

Charles Boakye

An energy sustainability and transition analyst at Jefferies who believes Project Vault is 'absolutely' needed but represents only a 'first big step of many' towards breaking China's dominance in the critical minerals supply chain.

Australia

The Australian government announced plans in January 2026 to formalize a state-backed strategic critical minerals reserve worth $800 million, prioritizing antimony, gallium, and rare earth elements.

European Union

The EU is advancing plans to build a joint reserve of critical raw materials under its RESourceEU strategy, with Italy, France, and Germany expected to take the lead.

India and Brazil

The two countries recently agreed to deepen cooperation on critical minerals and rare earths, as New Delhi seeks to diversify its supply sources and reduce reliance on China.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.