Ivanhoe Mine Chair Meets President Trump for Major US Critical Minerals Initiative

The recent meeting between Robert Friedland, Executive Co-Chairman of Ivanhoe Mines, and Donald Trump at the White House marks a significant moment in the United States’ evolving strategy to secure critical mineral supply chains. The engagement coincided with the official launch of Project Vault, a large-scale initiative valued at US$12 billion, designed to reinforce domestic access to strategically important minerals that are essential for industrial production, advanced manufacturing, and energy transition technologies. The event, held on 2 February 2026 in Washington DC, brought together senior government officials and global industry leaders.

Project Vault represents a coordinated public private effort that blends US$1.67 billion in private sector investment with a substantial US$10 billion loan commitment from the US government. Financial backing for the initiative is being channelled through the Export-Import Bank of the United States, underlining Washington’s intent to use state-backed financing tools to de-risk strategic supply chains. The project’s primary objective is to procure, stockpile, and manage critical minerals for civilian and industrial use within the United States, reducing exposure to supply disruptions and geopolitical uncertainties.

Within this framework, Ivanhoe Mines has emerged as a key international partner, leveraging its African asset base to support US supply security objectives. The company is currently in advanced discussions with Gécamines and global commodities trader Mercuria to structure long-term supply arrangements. These talks centre on production from the ultra-high-grade Kipushi Mine, located in the Democratic Republic of the Congo. The Kipushi operation is notable for its exceptionally rich zinc, copper, lead, germanium, and gallium content, minerals that are increasingly critical for electronics, renewable energy systems, and advanced industrial applications.

The high-level nature of the Project Vault launch was underscored by the presence of senior US officials and leading industrial players, including the Chief Executive Officer of General Motors. Their participation reflects growing alignment between upstream mining, downstream manufacturing, and government policy, particularly as automakers and technology companies seek stable access to inputs required for electric vehicles, semiconductors, and clean energy infrastructure.

Looking ahead, Project Vault highlights how African mining assets are becoming strategically embedded in global industrial policy frameworks. For Africa, and particularly the DRC, such initiatives could translate into deeper integration into global value chains, increased foreign investment, and stronger demand for responsibly produced minerals. However, the long-term impact on the continent’s mining industry will depend on how effectively resource-rich countries negotiate value addition, infrastructure development, and governance improvements, ensuring that strategic partnerships deliver sustainable economic benefits alongside global supply security.

Mini-Glossary

• Critical minerals: Minerals essential for economic and national security, often with limited supply alternatives.
• Supply chain security: Measures taken to ensure reliable and uninterrupted access to essential goods and raw materials.
• Public private partnership: A cooperative arrangement between government entities and private companies to finance and manage large projects.
• Export credit agency: A government-backed institution that provides financing to support national strategic or trade objectives.
• Ultra-high-grade deposit: A mineral deposit with exceptionally high concentrations of valuable metals.

Editor: Vural Burç ÇAKIR