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Ivanhoe Mines Founder and Executive Co-Chairman Robert Friedland joined the President of the United States of America Donald J. Trump for the launch of Project Vault, a $12 billion domestic critical minerals stockpile. Ivanhoe Mines is in advanced discussions with Gécamines, the Democratic Republic of the Congo (DRC) state-owned mining company, as well as metals and energy trading firm, Mercuria, to supply to the United States with critical minerals contained within the concentrate produced by the ultra-high-grade Kipushi zinc-copper-lead-germanium-gallium mine located in the DRC.

Project Vault is a United States supply chain security initiative set up to build a reserve of strategic critical minerals. The initiative is set to combine $1.67 billion in private capital with a $10 billion loan from the Export-Import Bank of the United States that will procure and store critical minerals in the United States for civilian use.

Project Vault was officially launched on February 2, 2026 in the Oval Office at the White House, in Washington DC, during a press conference hosted by President Trump. In attendance from the mining and manufacturing industries were Ivanhoe Mines’ Founder and Executive Co-Chairman Robert Friedland and General Motors’ Chief Executive Officer Mary Barra.

The presidential delegation in attendance included Secretary of Commerce Howard Lutnick, Secretary of the Interior Doug Burgum, Secretary of the Treasury Scott Bessent, and other senior members of the House and Senate. In addition, Chairman and President of the Export-Import Bank of the United States, John Jovanovic, and David J. Copley, Special Assistant to the President and Senior Director at the National Security Council, were also in attendance.

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