U.S. hosts critical minerals ministerial with over 50 countries in Washington
The United States is convening ministers and senior officials from more than 50 countries this week to discuss cooperation on critical mineral supply chains and efforts to reduce global dependence on China, Qazinform News Agency correspondent reports.
Washington is hosting the first session of the new Critical Minerals Ministerial, an initiative launched by the administration of Donald Trump to build international partnerships around minerals essential for defense industries and emerging technologies, including artificial intelligence.
According to the U.S. Department of State, the meeting is being hosted by Secretary of State Marco Rubio at the State Department, with the main ministerial session scheduled for Wednesday. Delegations include representatives from the Group of Seven, the European Union, Australia, New Zealand, and a broad range of other countries, including Kazakhstan.
On the sidelines of the gathering, Rubio held talks with South Korean Foreign Minister Cho Hyun and Indian External Affairs Minister Subrahmanyam Jaishankar. Discussions focused on expanding investment cooperation and strengthening the security of critical mineral supply chains.
Critical minerals are non-fuel minerals used in the production of batteries, semiconductors, military hardware, wiring, and other advanced technologies. U.S. authorities describe them as vital to national and economic security and note that many supply chains remain vulnerable to disruption. For 12 critical minerals, the United States relies entirely on imports, while for 29 others, it imports at least half of domestic consumption.
A central concern for many participating countries is China’s dominant role in rare earth elements, a group of 17 minerals that includes 15 lanthanides, as well as scandium and yttrium. These elements are crucial for permanent magnets used in electric vehicle motors, renewable energy equipment, electronics, industrial automation, and medical devices.
China is estimated to hold about 60% of global rare-earth reserves and processes roughly 90% of the global supply. It has also developed extensive processing technologies and holds thousands of related patents. Over the past year, Beijing imposed export controls on rare-earth metals, though some restrictions were temporarily suspended following trade discussions between Xi Jinping and Trump at a regional summit in South Korea.
One of the proposals expected to be discussed at the ministerial is the idea of establishing a minimum price for certain critical minerals. Supporters argue that a price floor could reduce investor risk and help ensure diversified supply. The U.S. administration, however, is reported to be cautious about backing such guarantees.
Opening remarks at the conference are to be delivered by Vice President JD Vance, along with Rubio and senior officials responsible for global supply chains and economic affairs.
Trump also announced the creation of a U.S. strategic minerals stockpile, known as Project Vault. The initiative is expected to be financed by $2 billion in private capital and supported by a $10 billion loan from the U.S. Export-Import Bank. The stockpile aims to provide a buffer against supply disruptions and strengthen domestic resilience.
Several countries are pursuing similar strategies. Japan reinforced its rare earth stockpiling system in 2020 as part of a broader international resource strategy. South Korea maintains a longstanding state-managed reserve of critical minerals, while the European Union recently adopted an action plan to secure supplies and establish a European Critical Raw Materials Centre. Australia has also unveiled details of a $1.2 billion Critical Minerals Strategic Reserve.
Australia, which holds the world’s fourth-largest rare earth reserves, is seeking to position itself as an alternative supplier by expanding domestic processing capacity. At the same time, experts note that Australia’s reserves remain significantly smaller than China’s, prompting the United States and its partners to explore cooperation with a wider range of resource-rich countries.
The Washington ministerial is expected to focus on coordination, information-sharing, and outlining longer-term frameworks for cooperation, as countries look to diversify supply chains and reduce vulnerabilities in a rapidly evolving global minerals market.
Earlier, Qazinform News Agency reported that Kazakhstan’s Minister of Foreign Affairs Yermek Kosherbayev held meetings with the Chairman of the U.S. House Foreign Affairs Committee, Brian Mast, and Senator Steve Daines during his visit to the United States.
