Market Chatter: General Motors, Other Firms Join US Effort to Stockpile Strategic Critical Minerals

MT Newswires Live02-02 21:31

General Motors (GM), Stellantis (STLA), and other companies have joined an effort by the Trump administration to stockpile strategic critical minerals to reduce the US' reliance on Chinese rare earths and other metals, Bloomberg reported Monday, citing unidentified senior government officials.

The initiative will be funded with $1.67 billion in private capital and a $10 billion loan from the US Export-Import Bank and would accumulate minerals such as gallium and cobalt, which are crucial for industries such as the automotive, aerospace, and energy sectors, the report said.

The participating firms include GE Vernova (GEV), Boeing (BA), Corning (GLW), and Alphabet's (GOOG, GOOGL) Google, while commodities trading houses Hartree Partners, Traxys North America, and Mercuria Energy Group are set to handle the purchases of the raw materials, the report said.

The bank's board is expected to vote later Monday to approve the 15-year loan, Bloomberg reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MTX","symbol_name":"Minerals Technologies Inc","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2608510864","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2608510864","pubTimestamp":1770039060,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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