WASHINGTON, FEB 6 /DNA/ – In a decisive move to counter global supply chain vulnerabilities, the United States today convened leaders from over 50 nations and launched an ambitious suite of initiatives aimed at reshaping the world’s critical minerals market. Secretary of State Marco Rubio, alongside Vice President JD Vance and key cabinet officials, announced the formation of a new international coalition and unveiled billions in new financing, signaling an unprecedented level of state-directed industrial policy.
“The era of concentration, coercion, and vulnerability in critical minerals is over,” declared Secretary Rubio. “Today, America and its partners are forging a new path—one built on security, diversification, and resilience from the mine to the factory floor.”
The centerpiece of the 2026 Critical Minerals Ministerial was the launch of the Forum on Resource Geostrategic Engagement (FORGE), formally established as the successor to the Minerals Security Partnership. The Republic of Korea will chair the new body initially. FORGE is tasked with driving policy and project-level collaboration to build what officials termed “end-to-end” secure supply chains for minerals essential to advanced technologies, defense systems, and the clean energy transition.
In a significant display of diplomatic outreach, the U.S. signed eleven new bilateral agreements on critical minerals with countries including Argentina, the Cook Islands, Ecuador, Guinea, Morocco, Paraguay, Peru, the Philippines, the United Arab Emirates, and Uzbekistan. These frameworks, part of a broader push that has seen deals with 27 countries in recent months, are designed to spur joint development, improve market fairness, and unlock financing.
Unprecedented Financial Mobilization
The Trump Administration detailed a massive mobilization of public capital to catalyze private investment, spanning multiple agencies:
- EXIM Bank: President Trump’s “Project Vault” received approval for a landmark $10 billion direct loan—more than double EXIM’s largest previous financing—to establish a U.S. Strategic Critical Minerals Reserve. This initiative aims to directly shield American manufacturers from supply shocks. EXIM’s total critical minerals portfolio now exceeds $25 billion in letters of interest and authorized transactions worldwide.
- Department of Energy: The DOE’s Loan Programs Office is supporting a roster of major domestic projects with loans and conditional commitments totaling over $7 billion, including for Lithium Americas’ Thacker Pass mine in Nevada and recycling facilities for battery materials.
- Department of War & DFC: The Department of War committed over $2.3 billion in debt and equity to mining and processing projects from Alaska to Australia. The U.S. International Development Finance Corporation (DFC) is exploring more than $1 billion in new deals, including a $600 million anchor investment in the Orion Critical Minerals Consortium.
Officials emphasized that this public capital is acting as a multiplier. “Our investments, driven by America First values, are mobilizing private capital many times greater than the U.S. government outlay,” a fact sheet stated, predicting “billions of dollars in new projects.”
Private Sector at the Core
Recognizing that “governments alone cannot solve this problem,” the administration highlighted its close partnership with industry through the Pax Silica framework and other ventures. The day before the ministerial, Deputy officials witnessed the signing of a major MOU between commodities giant Glencore and the U.S.-backed Orion Consortium for potential assets in the Democratic Republic of the Congo, aligning with U.S. strategic partnership goals there.
Trade and International Coordination
The Office of the U.S. Trade Representative announced a new Action Plan on Critical Minerals with Mexico to coordinate trade policies and mitigate vulnerabilities. Furthermore, USTR, in coordination with the European Commission, announced the immediate launch of a U.S.-EU Critical Minerals Task Force. This new body will work to align standards, accelerate joint projects within FORGE, and jointly address non-market policies and practices that distort the global minerals market.
“From the mine to the refinery to the assembly line, America is reclaiming its industrial sovereignty,” said Vice President Vance. “We are not just participating in the global race for strategic resources—we are setting the pace and defining the terms. This is the economic statecraft of the 21st century, and it has only just begun.”
The ministerial concluded with the formation of a government-private sector task force to advance priority projects, signaling that today’s announcements are the first step in a sustained, high-priority campaign.
