by Sebastien GOULARD
On February 4, the first ministerial-level event dedicated to critical minerals was held in Washington. Around fifty foreign delegations took part in this conference, initiated by President Donald Trump in response to China’s rare earth export control policy, first introduced by Beijing and reaffirmed in October 2025.
A Ministerial Event on Critical Minerals
Organized by Secretary of State Marco Rubio and attended by Vice President J.D. Vance, this inaugural event brought together, around the United States, countries concerned about their access to rare earths and seeking to secure their supply chains, particularly in light of China’s tightened control over its mineral exports as the world’s leading producer of rare earth elements.
One of the key outcomes of this meeting is the prospective establishment of a mechanism bringing together the United States, the European Union, and Japan to define floor prices aimed at regulating trade in strategic minerals and coordinating their commercial policies toward producing countries in an optimal manner. The objective is to encourage investment in mining extraction within this trilateral framework, as well as in countries most open to foreign investment. The shared goal in Washington, Brussels, and Tokyo is to prevent strategic mineral trade from remaining under China’s exclusive control, which could stifle innovation by restricting rare earth exports.
During the event, the United States also concluded similar agreements with Mexico. Mexico City and Washington identified shared challenges related to securing access to strategic minerals and are expected to coordinate their trade policies and regulatory frameworks in the mining sector.
Additional agreements were signed with several countries (Argentina, the Cook Islands, Ecuador, Guinea, Morocco, Paraguay, Peru, the Philippines, the United Arab Emirates, the United Kingdom and Uzbekistan) to ensure access for U.S. companies to strategic resources.
Notably, countries traditionally close to China, such as Pakistan, were present at the event and view U.S. mining policy as an opportunity to rebalance their relations with Beijing.
The “Vault” Project
Earlier in the week, President Trump unveiled the “Vault” project, aimed at securing the supply chain of critical minerals (including rare earths and other minerals deemed strategic). This public–private fund, totaling USD 12 billion (USD 10 billion in loans provided by EXIM Bank and USD 2 billion from the private sector), will enable strategic industries to access the minerals essential to their operations, thereby reducing their vulnerability to potential Chinese controls.
Through this fund, strategic minerals may be stockpiled in the United States or in partner countries, shielding them from possible export restrictions imposed by China. The initiative is designed to ensure supply chain stability and security for industries such as automotive manufacturing, electronics, artificial intelligence, and aerospace, including companies like Boeing.
Equity Stakes in the Mining Sector
The strategic confrontation with China and the rapid development of artificial intelligence are pushing U.S. authorities to take a more direct role in securing rare earth supplies, including by acquiring stakes in start-ups and key mining companies such as the Canadian firm Lithium Americas. This ambitious policy is expected to help the United States close the gap with Beijing.
In the coming months, further acquisitions by U.S. public entities or private companies are likely, both domestically and abroad, particularly in Africa. Recently, U.S. interests were announced in copper mines operated by the Glencore Group in the Democratic Republic of the Congo. Increased U.S. involvement in the mining sector could lead Washington to exert greater pressure on certain African countries, potentially generating new tensions not only with China but also with India, Russia, and Turkey, all of which are highly active in Africa’s mining sector.
The African Growth and Opportunity Act (AGOA), launched by Washington in 2000 to support African economies and provide broader access to the U.S. market, was initially set to expire in September 2025 following a decision by the new Trump administration. It was ultimately reauthorized by the U.S. Senate for one year, in an effort to strengthen ties with African capitals.
This renewed interest in strategic minerals may represent an opportunity for some African states to develop new partnership, or, conversely, to face heightened tensions driven by competition among foreign powers.
Pax Silica
The February 4 summit follows the “Pax Silica” initiative unveiled by Washington in December 2025, which aims to strengthen supply chains for resources essential to emerging technologies, including semiconductors. Around ten countries have joined the initiative to jointly invest in energy, logistics, and data centers.
Securing access to strategic resources is becoming a structuring pillar of U.S. foreign policy, a priority shared by other powers concerned about potential constraints on access to rare earths and the resulting impact on their innovation capacity. The U.S. strategy, if it succeeds in ensuring open access to strategic resources, could prove attractive to many countries, both producers and investors alike.
