Herbert Smith Freehills Kramer advises Mercuria in $500 million commitment to Project Vault, aimed at strengthening U.S. industrial supply chains

On September 23, 2026, HSF Kramer client Mercuria, one of the world’s largest independent integrated energy and commodities groups, announced a $500 million commitment to Project Vault, a strategic minerals reserve initiative designed to strengthen U.S. industrial supply chains. Announced in New York during the United Nations General Assembly summit, the initiative establishes a dedicated framework to ensure U.S. industry participants retain access to critical minerals during periods of supply disruption or market dislocation. Project Vault, now VaultCo,  was designed by EXIM to strengthen U.S. supply chain resilience by maintaining strategic inventories on American soil.

The HSF Kramer team advising Mercuria was led by partners Robert Leung and Daniel Grossman, and included counsel Jason Hill, partners Kenneth Chin and Abraham (Avi) Reshtick, senior associate Tiancheng (T.C.) Huang and associate Marie Soga.