US adds Glencore and Mercuria to critical minerals strategy

The United States launched VaultCo, a public-private initiative aimed at strengthening its industry's access to critical minerals and reducing risks associated with disruptions in global supply chains.

Glencore and Mercuria were selected as founding partners of the program. Each company will receive a $500 million commitment backed by the Export-Import Bank of the United States (EXIM), bringing the total amount allocated between both to $1 billion.

The scheme seeks to build strategic inventories of these resources to ensure more stable supply to US industry. The initiative is part of Washington's strategy to reduce its exposure to potential cuts or restrictions in international supply.

Both companies have projects linked to critical minerals in Argentina, although available information does not specify which operations or resources will be covered by the announced commitments.