Critical Minerals, Geopolitics, and U.S. National Security: Building a Resilient Supply Chain

The United States is working to build more secure supplies of critical minerals because these materials are important for national security. Critical minerals are used in military equipment, computers, electric motors, batteries, power grids, aircraft, and advanced weapons. The U.S. Geological Survey now lists 60 minerals as critical because they are important to the economy and defense but may be hard to obtain during a crisis. Source

Why this matters

The main concern is that the United States depends heavily on foreign countries for many minerals and for the processing needed to turn raw ore into usable materials. China plays a major role in refining several important minerals, including rare earth elements used in powerful magnets, electronics, and military systems.

This creates a geopolitical security risk. A war, trade dispute, export ban, natural disaster, or political conflict could interrupt supplies. Even if the United States has access to a mineral deposit, it may still need foreign companies to process the material into chemicals, metals, magnets, batteries, or other finished products.

For this reason, U.S. policy is not simply about opening new mines. It is about building a stronger supply chain—from mining and processing to manufacturing, recycling, storage, and trade with allies.

Project Vault

Project Vault is one of the newest U.S. efforts. Announced in February 2026, it is designed to create a large reserve of critical minerals that can be used during a supply emergency. It combines up to $10 billion in financing from the Export-Import Bank of the United States (EXIM), with about $2 billion in private investment. Source

The project works like a strategic warehouse. Companies that use critical minerals can help pay for the reserve and gain access to materials if normal supply chains are disrupted. The reserve would buy and store minerals before a shortage occurs.

Project Vault has several goals:

• Give U.S. manufacturers access to materials during a crisis.

• Reduce the risk of sudden price increases or shortages.

• Encourage investment in U.S. and allied mining and processing projects.

• Help companies sign long-term purchasing agreements with new suppliers.

• Support a supply reserve that can cover short-term disruptions.

Project Vault is different from a normal government stockpile because it is meant to involve private companies as well as the federal government. It is meant to protect both national defense needs and the larger industrial economy. Source

FORGE and allies

The United States is also building partnerships with other countries through the Forum on Resource Geostrategic Engagement (FORGE). FORGE follows the earlier Minerals Security Partnership and focuses on working with allies and mineral-producing countries to strengthen supply chains. Source

The United States cannot produce every needed mineral on its own. Countries such as Australia, Canada, Japan, South Korea, and the Democratic Republic of the Congo have important mineral resources or processing abilities. The goal is to build supply chains with reliable partners instead of depending too heavily on one country.

FORGE may also support trade rules and pricing systems that protect U.S. and allied producers from unfair competition or market manipulation. U.S. officials have discussed a preferential trade zone for critical minerals and possible price floors for certain materials. Source

Loans and investment programs

The federal government is using several programs to help mines, refineries, recycling plants, and manufacturers get the money they need. These projects can be expensive and risky, especially because mineral prices often rise and fall sharply.

Program	What it does
EXIM	Offers loans, loan guarantees, and other financing for U.S.-linked projects at home and in allied countries. EXIM is financing Project Vault and has shown interest in supporting Australian critical-mineral projects. Source
Defense Production Act Title III	Allows the government to support industries needed for national defense, including critical-mineral processing and manufacturing. comptroller. Source
Office of Strategic Capital	A Department of War office that helps important national-security companies gain access to long-term funding. It backed a conditional $700 million loan for U.S. rare-earth separation and magnet production. Source
Department of Energy	Provides loans and grants for projects involving minerals, batteries, recycling, and processing. DOE announced up to $355 million for domestic critical-mineral production and related projects. Source
National Defense Stockpile	Stores materials needed for military emergencies. It is the older, defense-focused version of a reserve, while Project Vault is meant to serve a wider group of manufacturers. Source
Industrial Base programs	Help strengthen weak parts of the defense supply chain, including access to strategic materials. Source

Challenges ahead

These efforts will take time. A mine or processing plant can take many years to plan, permit, finance, build, and operate. The hardest part may be building enough U.S. processing capacity, because raw minerals are often sent abroad for refining.

The United States must also make sure that its partnerships are mutually beneficial and durable. Countries that supply minerals want jobs, infrastructure, and local processing—not just foreign companies removing raw materials. Environmental protection, worker safety, local communities, and Indigenous rights will also affect whether projects can move forward.

Overall, the United States is treating critical minerals as a national-security issue. Project Vault provides an emergency supply reserve. FORGE builds partnerships with allies. Programs such as EXIM, the Defense Production Act, the Department of Energy, and the Office of Strategic Capital provide loans, grants, and investment support. Together, these efforts are meant to reduce the risk that a foreign government, conflict, or supply disruption could cut off materials needed for U.S. defense and industry.

Critical Minerals, Geopolitics, and U.S. National Security: Building a Resilient Supply Chain

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