According to MiddleAsianNews, the United States, together with allies and partners, is aiming to transform the global market for critical minerals and rare earth elements.
As part of this initiative, the U.S. held a meeting with representatives from 54 countries and the European Commission, marking a decisive step towards changing the global market for rare earth elements and other critical minerals.
Attending the meeting were Secretary of State Marco Rubio, Vice President JD Vance, as well as senior representatives from the Departments of Treasury, Interior, Energy, and Commerce, who hosted delegates from 54 countries and the European Commission, including 43 foreign ministers and leaders from other agencies.
Participating countries included: Angola, Argentina, Armenia, Australia, Bahrain, Belgium, Bolivia, Brazil, Canada, Cook Islands, Czech Republic, Democratic Republic of the Congo, Dominican Republic, Ecuador, Estonia, European Commission, Finland, France, Germany, Greece, Guinea, India, Israel, Italy, Japan, Jordan, Kazakhstan, Kenya, Lithuania, Malaysia, Mexico, Mongolia, Morocco, New Zealand, Norway, Oman, Pakistan, Paraguay, Peru, Philippines, Poland, Qatar, Republic of Korea, Romania, Saudi Arabia, Sierra Leone, Singapore, Sweden, Thailand, Netherlands, Ukraine, United Arab Emirates, United Kingdom, Uzbekistan, and Zambia.
“Critical minerals and rare earth elements play a key role in modern technologies and will be increasingly in demand as artificial intelligence, robotics, and autonomous devices develop, transforming our economies. This market is currently highly centralized, making it vulnerable to political pressure and supply chain disruptions, jeopardizing our core interests. We intend to create new supply sources, develop reliable logistics networks, and make the global market secure and resilient,” the U.S. State Department stated.
“During the ministerial conference, the United States and its partners took steps to create resilient supply chains for critical minerals. In one day, the U.S. signed new bilateral agreements and memoranda of understanding, announced public funding opportunities for strategic mineral resource projects, and launched the Forum for Geostrategic Interaction in the Resource Sector (FORGE). These actions are supported by cooperation between the U.S. and nine partners under Pax Silica to ensure the security of strategic elements in global technology supply chains.”
Among the signed agreements are eleven new bilateral framework agreements and memoranda of understanding with countries such as Argentina, Cook Islands, Ecuador, Guinea, Morocco, Paraguay, Peru, Philippines, United Arab Emirates, United Kingdom, and Uzbekistan. Over the past five months, the United States has concluded ten more similar agreements and completed negotiations with seventeen other countries, demonstrating leadership in diplomacy regarding critical mineral resources. These framework agreements create a foundation for cooperation among countries on pricing, developing fair markets, and addressing supply chain gaps.
Rubio announced the establishment of FORGE, which will replace the Mineral Security Partnership (MSP). The Republic of Korea will chair FORGE until June, and this forum will take decisive action to address existing issues in the global market for critical minerals. FORGE partners will work together at both political and project levels to advance initiatives for sustainable and reliable supply chains.
“Recognizing that governments cannot solve these problems alone, we are ready to work closely with the private sector, including the Pax Silica project, which will actively engage in investments in the extraction and processing of minerals. The day before the ministerial meeting, on February 3, we gathered leading representatives from the private sector to discuss supply chain issues and investment opportunities. On that day, Deputy Secretary of State Landau attended the signing of a memorandum of understanding between Glencore and the Orion Critical Mineral Consortium, reflecting the core objectives of the strategic partnership between the U.S. and the DRC. After the ministerial meeting on February 4, Deputy Secretary of State Landau and Deputy Minister Helberg convened a working group of mining industry leaders to advance priority projects,” the statement noted.
U.S. Export-Import Bank (EXIM)
On February 2, President Trump announced the launch of the "Vault" initiative (Project Vault), a significant program led by the U.S. Export-Import Bank (EXIM) aimed at creating a domestic strategic reserve for critical minerals. The EXIM Board of Directors approved a loan of up to $10 billion for the implementation of the "Vault" project, which is the largest financing in the bank's history, designed to protect domestic producers from supply risks and expand the processing of critical raw materials in the U.S.
In a broader context, over the past year, EXIM has issued letters of interest totaling $14.8 billion for critical mineral extraction projects, including recent applications for $455 million for the development of rare earth elements in the U.S. and additional investments in lithium, cobalt, and other resources in various countries.
EXIM's portfolio for critical minerals includes the following approved deals:
$10 billion – Vault Project: creating a strategic reserve to support domestic producers and strengthen supply chain security
$1.3 billion – Reko Diq (Pakistan): copper and gold mining
$27.4 million – 6K Additive (Pennsylvania): titanium, nickel, and advanced metal powders
$23.5 million – Amaero Advanced Materials (Tennessee): processing of advanced materials and critical metals
$15.9 million – Empire State Mines (New York): zinc mining and production
$11.1 million – IperionX (Virginia): processing and production of titanium.
The Department of Energy also announced new funding and partnership opportunities for 2025, including:
$134 million for the establishment of a rare earth element demonstration center to strengthen supply chains (NOFO, December 1, 2025);
$355 million to support the "Future Mine – Testbed" initiative for developing next-generation mining technologies (NOFO, November 14, 2025);
$50 million for the establishment of a critical mineral accelerated development program (NOI, August 13, 2025);
$500 million for grants for materials recycling for battery production and disposal (NOI, August 13, 2025);
$40 million for reliable ore characterization using Keystone Sensing (ROCKS) (NOFO, August 25, 2025);
$20 million for the "Magnetic Acceleration Generating New Innovations and Tactical Outcomes" project (MAGNITO) (NOFO, August 25, 2025);
$6 million for the "Technology for Extraction and Advanced Mining of Critical Materials – Gallium" project (TRACE-Ga) (PIA, September 15, 2025);
Department of Defense
Ambler Metals, raised $35 million in equity, October 2025, Alaska;
Alcoa-Sojitz, raised $93 million in equity, October 2025, Western Australia, raised $170.3 million in equity from foreign and private investors;
Vulcan Elements, raised $620 million in debt, November 2025, North Carolina, raised $550 million in equity from private investors;
ReElement, raised $80 million in debt, November 2025, Indiana, raised $200 million in equity from private investors;
Korea Zinc, raised and financed $1.25 billion in debt, conditionally raised $2.4 billion in debt in December 2025, Republic of Korea and Tennessee, raised $2.4 billion in debt from private investors;
Korea Zinc, financing of $150 million, December 2025, Republic of Korea and Tennessee, raised $540 million from private investors;
Atalco, financing of $150 million, December 2025, St. Ann, Jamaica and Louisiana, raised $300 million from private investors.
U.S. International Development Finance Corporation (DFC)
During the Trump administration, the U.S. International Development Finance Corporation invested over a billion dollars in new mining exploration deals and strengthened supply chains for critical minerals for the U.S. and its allies, including:
Initial investments of $75 million in critical minerals and strategic sectors in Ukraine, mobilizing an additional $75 million in public funding;
$600 million in the Orion Critical Minerals consortium for investments in critical minerals worldwide, mobilizing an additional $1.2 billion in public funding;
$565 million for the extraction of heavy and light rare earth elements in Brazil;
Letter of intent to raise up to $700 million for financing the development of tungsten deposits in Kazakhstan;
Negotiations to establish a joint venture with an African trading company that secured the supply of 100,000 tons of copper to the U.S. and 50,000 tons to U.S. allies, Saudi Arabia and the UAE;
Strategic investment partnership to explore investment opportunities in critical mineral resources with leading companies in the Persian Gulf.
Office of the U.S. Trade Representative (USTR)
USTR announced an Action Plan on Critical Minerals with Mexico aimed at developing coordinated trade policies to prevent supply chain vulnerabilities.
USTR also expressed its intention to develop joint Action Plans with the European Commission and Japan to enhance the resilience of critical mineral supply chains.
