On 2 February, US President Donald Trump announced the creation of Project Vault, a first-of-its-kind strategic stockpile of critical minerals, including copper, intended to reduce US reliance on foreign supply chains and shield domestic manufacturers from supply disruptions. Project Vault is expected to be funded with approximately US$12 billion, which includes a US$10 billion loan from the US Export-Import Bank (EXIM) and up to US$2 billion of private-sector investment, and is designed to function in a manner similar to the US Strategic Petroleum Reserve, but focused on critical and strategic metals, including copper.

The initiative aims to divert mineral supply chains away from China and other dominant producers, with an emphasis on critical and strategic metals essential to the automotive, aerospace, technology and energy sectors. Project Vault is expected to support long-term security of supply by building and managing an emergency source of key minerals and by catalysing investment in reliable production in the US and allied jurisdictions.

“Once again, President Trump and the current administration are shining an important light on the need for more critical metals within the United States. We believe that this new policy enhances the strategic relevance of our Madison Project, a high-grade, past-producing copper and gold project located in a historic mining district in Montana,” commented American Pacific CEO, Warwick Smith.

“As a key metal of electrification, transmission infrastructure and a myriad of industrial applications, copper has become increasingly important to the energy transition and advanced manufacturing. Madison, with its existing underground development, high-grade copper-gold mineralisation and proximity to infrastructure, is well aligned to benefit from Project Vault and the associated push to secure domestic critical metals supply. We thank the Trump administration for their continued support of the metals and mining industry.”

The company anticipates several potential avenues where Project Vault could positively impact Madison’s development over time, including but not limited to, increased private and government investments, enhanced strategic partnerships and offtake frameworks that favour projects in US jurisdictions; and an accelerated permitting environment

Management believes Madison has the potential, with continued advancement, to become a meaningful future contributor to the US copper supply chain that Project Vault is designed to support.

American Pacific will continue to monitor the rollout of Project Vault and any associated programs or incentives applicable to US copper and precious metals projects.

Read the article online at: https://www.globalminingreview.com/mining/05022026/american-pacific-welcomes-launch-of-us-project-vault-strategic-critical-minerals-reserve/

Glencore and the Orion Critical Mineral Consortium have entered into a non-binding Memorandum of Understanding in relation to a potential acquisition by Orion CMC of a 40% stake in Glencore’s interests in its Democratic Republic of Congo ('DRC') assets, Mutanda Mining ('Mumi') and Kamoto Copper Company ('KCC').

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