Mercuria and Glencore Joined VaultCo Mineral Reserve

The trading firms each committed $500 million to support the U.S. mineral reserve project.

Updated on Sept. 28, 2026 in Electric Vehicles

Bold flat-color editorial illustration showing a singular mineral ore sample inside a shipping container, representing U.S. strategic industrial supply chains. — Mercuria and Glencore have each committed $500 million to join VaultCo in bolstering the U.S. strategic mineral reserve for critical supply chains. AI Illustration. Upload story photo >

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Trading giants Mercuria and Glencore have joined the private enterprise VaultCo to bolster the U.S. strategic minerals reserve. The project seeks to secure 60 critical minerals for American industry supply chains.

Why it matters

By integrating private-sector procurement with government financing, the project aims to insulate domestic manufacturing from supply chain volatility. It ensures consistent access to essential materials required for advanced technologies.

The reserve requires a total of 60 critical minerals, including copper, lithium, and rare earth elements. Financing is supported by a US$10 billion commitment from the U.S. Export-Import Bank.

The players

Mercuria

This Switzerland-based energy and commodities trading company is a major global player in the minerals and fuel sectors.

Glencore

Headquartered in Switzerland, this multinational corporation is one of the world's largest natural resource and mining companies.

VaultCo

This private enterprise manages the strategic minerals reserve to strengthen domestic supply chains.

U.S. Export-Import Bank

This federal agency provides government-backed financing to support American businesses and projects of national importance.

The details

Mercuria and Glencore are tasked with sourcing, procuring, and delivering minerals to build the reserve. VaultCo integrates these private contributions with public support to maintain stockpiles for commercial manufacturing.

Project Vault launched in February 2026.
Mercuria and Glencore joined the project in September 2026.

Energy
Sept. 29
Payne Institute Proposed Mineral Supply Agenda
Energy
Oct. 1
Energy Department Proposed Mineral Recovery Initiative
Geography
Sept. 29
USGS Released Updated Critical Mineral Database

Roadmap

This project mirrors the industry push toward vertical integration to mitigate dependencies on international mineral markets. It positions U.S. industrial output to better withstand global supply fluctuations by securing access to rare earth minerals, lithium, and copper.

Securing a domestic reserve helps stabilize the prices of raw materials needed for electric vehicle batteries and other consumer electronics. This inventory management can reduce production delays and help keep costs lower for the average vehicle buyer.

The takeaway

Maintaining a reliable supply of minerals is essential for the transition to advanced modern manufacturing. Strategic partnerships between global traders and the government serve as a safeguard against potential future supply chain disruptions.