By Kevin Akor
WASHINGTON (chatnewstv.com) — The United States and more than 50 partner countries agreed Wednesday on an ambitious effort to overhaul the global market for critical minerals and rare earths, aiming to reduce supply chain vulnerabilities and curb the use of minerals as tools of political leverage.
Secretary of State Marco Rubio, joined by Vice President JD Vance and several Cabinet officials, hosted representatives from 54 countries and the European Commission at the 2026 Critical Minerals Ministerial in Washington. The gathering included 43 foreign and other ministers from nations spanning Africa, Europe, Asia, the Middle East and the Americas.
“Critical minerals and rare earths are essential to the technologies that will define this century,” Rubio said, citing artificial intelligence, robotics, batteries and autonomous systems.
“A highly concentrated market leaves our economies exposed to coercion and disruption, and that is a risk we are no longer willing to accept.”
U.S. officials said the initiative seeks to build new sources of supply, secure transportation and logistics networks, and establish a diversified and resilient minerals market from mining through processing and recycling.
During the one-day ministerial, the United States signed 11 new bilateral frameworks or memorandums of understanding on critical minerals with countries including Argentina, Ecuador, Morocco, Peru, the Philippines, the United Arab Emirates and Uzbekistan. Officials said 10 similar agreements were signed in the past five months, with negotiations completed with 17 additional countries.
“These frameworks lay the groundwork for fair markets, transparent pricing and expanded access to financing,” a senior State Department official said.
“They are central to closing gaps in priority supply chains.”
Rubio also announced the creation of the Forum on Resource Geostrategic Engagement, or FORGE, which will succeed the Minerals Security Partnership. The Republic of Korea will chair the new body through June. According to U.S. officials, FORGE will coordinate policy and project-level action among partner governments to strengthen diversified and secure mineral supply chains.
Recognizing the limits of government action alone, U.S. officials emphasized private-sector involvement through initiatives such as Pax Silica, which focuses on mining, refining, processing and recycling investments. On Tuesday, Deputy Secretary of State Christopher Landau witnessed the signing of a memorandum of understanding between Glencore and the U.S.-backed Orion Critical Mineral Consortium related to potential asset acquisitions in the Democratic Republic of the Congo.
“This reflects our commitment to encouraging responsible investment and mutually beneficial flows of copper and cobalt,” Landau said, referring to the U.S.-DRC Strategic Partnership Agreement.
The Trump administration has mobilized more than $30 billion in letters of interest, investments and loans over the past six months to support critical minerals projects, according to U.S. officials. They said the funding is designed to crowd in private capital and bolster U.S. national security and economic competitiveness.
President Donald Trump on Monday announced “Project Vault,” a plan led by the Export-Import Bank of the United States to establish a domestic strategic reserve for critical minerals. The EXIM board approved a direct loan of up to $10 billion, the largest financing in the bank’s history, to shield U.S. manufacturers from supply shocks.
“America is leading the global race for strategic minerals and advanced manufacturing,” a White House statement said. “This is only the beginning.”
Additional support is flowing through the Department of Energy, the Defense Department and the U.S. International Development Finance Corporation, which has committed or is exploring more than $1 billion in mineral investments abroad, including in Ukraine, Brazil and Kazakhstan.
The Office of the U.S. Trade Representative also announced new action plans on critical minerals with Mexico, and said the United States, the European Commission and Japan intend to develop joint plans to strengthen supply chain resilience.
Officials said dozens of additional projects are under review, signaling what they described as a sustained U.S.-led push to secure the minerals underpinning the global economy of the future.
