Glencore Joins Project Vault With $500 Million Cobalt Commitment

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Glencore has committed $500 million to VaultCo as part of the US Export-Import Bank's Project Vault, aimed at sourcing critical minerals like cobalt for government stockpiling. This investment follows EXIM's approval of a $10 billion loan to finance the project alongside private capital.

Glencore committed $500 million to VaultCo, the Export-Import Bank public-private partnership sourcing critical minerals for a US government stockpile, Reuters reported Wednesday. The commitment makes Glencore the fourth supplier named to Project Vault, joining Hartree Partners, Mercuria Americas and Traxys seven months after EXIM's board approved the program's underlying loan. EXIM's board approved a $10-billion direct loan for Project Vault on February 2, 2026, paired with roughly $2 billion in private capital for a $12-billion total that finances…