Friedland’s Vault: Unlocking the US Treasury with African Keys
From the White House to Cape Town: How the Ivanhoe founder is turning African geology into American security with a $12 billion strategic play.
If there were a crown for the King of Cape Town this week, Robert Friedland would likely have melted it down to assay its copper content before considering wearing it. The founder of Ivanhoe Mines (TSX: IVN) did not merely arrive at Mining Indaba 2026 to exchange pleasantries; he touched down as the newly anointed broker between the White House and the mineral-rich soil of the Congo, effectively declaring that the road to the global energy transition is paved with African ore.
Fresh off a plane from Washington, D.C., where he met with U.S. President Donald Trump on February 2, Friedland brought more than just his signature showmanship to the keynote stage. He arrived with the geopolitical weight of "Project Vault," a staggering $12 billion initiative aimed at establishing a strategic critical minerals stockpile for the United States. For years, mining executives have whispered about the West needing to counter supply chain vulnerabilities. Friedland did not just whisper; he seemingly sold the American government the solution, backed by a proposed $10 billion from the U.S. Export-Import Bank.

