The U.S. is now building a strategic minerals reserve.

President Trump on Monday rolled out a $12 billion initiative, called operation Vault, to establish domestic stockpiles of strategic minerals, as the US looks to defang China's mineral weapon.

The reserve will be financed by $1.67 billion in private funds and a $10 billion loan from the U.S. Export-Import Bank.

EXIM said that the reserve will be a public-private partnership that will store essential raw materials in facilities across the U.S.

The strategic reserve is designed to bolster civilian manufacturing needs and already involves a host of companies, including General Motors, Stellantis, Google and Boeing, among others. Three commodity trading houses will handle purchases of raw materials to fill the stockpile.

EXIM noted that, "Project Vault is designed to support domestic manufacturers from supply shocks, support U.S. production and processing of critical raw materials, and strength America's critical minerals sector."

And in far less welcome news, Punxsutawney Phil saw his shadow yesterday. — buckle up for six more weeks of winter.

As biting cold continues, grid operators, utilities and the Department of Energy have been working overtime to keep the power flowing. Just this past weekend, the Energy Department issued seven emergency orders, and extended another five, to mitigate the risk of blackouts.