Critical Metals Corporation's stock surged 6.30% in pre-market trading on Monday.

The rally comes after reports that the Trump administration is launching a $12 billion strategic critical-minerals stockpile initiative dubbed "Project Vault" to reduce U.S. reliance on Chinese rare earths and other critical minerals. The venture combines $1.67 billion in private capital with a $10 billion loan from the U.S. Export-Import Bank to procure and store minerals for automakers, tech firms and other manufacturers.

Major companies including General Motors, Stellantis, Boeing, Corning, GE Vernova and Google have signed on to participate in the project, which aims to insulate manufacturers from supply shocks and price volatility in critical minerals used in products like iPhones, batteries and jet engines. The administration sees this as a key step to wean U.S. supply chains from China, the world's dominant provider and processor of critical minerals.