During the ministerial meeting held in Washington, representatives from 54 countries, along with the European Union and high-ranking officials from the Trump administration, convened to discuss these plans. The gathering highlighted the global urgency and collaborative spirit needed to address critical mineral supply chains.

Following the discussions, the U.S. announced the signing of new bilateral agreements with 11 countries, complementing 10 similar deals that have been established in the last five months. Additionally, negotiations reached a conclusion with 17 more nations, signaling a growing international coalition.

The primary objectives of these agreements are to tackle pricing issues, stimulate sector development, promote equitable market practices, and enhance financing opportunities within the critical minerals industry. This coordinated effort marks a pivotal moment in redefining global trade dynamics in this crucial sector.

The goals of the agreements are to address pricing challenges, spur development, create fairer markets, and expand access to financing in the critical minerals sector. 

Secretary of State Marco Rubio, who hosted the Ministerial, also announced the formation of the “Forum on Resource Geostrategic Engagement (FORGE),” on Wednesday, a partnership to coordinate critical mineral policy and projects.

“We have a number of countries that have signed on to that, and many more that we hope will do so… the purpose of FORGE is to foster collaboration and to build a network of partners across the world,” Rubio said.

FORGE will complement an earlier effort between the U.S. and nine partners, known as “Pax Silica.” While Pax Silica centers on safeguarding AI-related supply chains, FORGE is designed as a broader platform to coordinate critical mineral policy, pricing and project development.

Rubio warned of risks tied to the concentration of critical minerals in “one country,” in an apparent reference to China, including geopolitical leverage and potential disruptions from pandemics or instability.

In recent years, Beijing has wielded its market dominance in the mining and refining of most critical minerals as a geopolitical tool, selectively restricting exports. 

Rubio also criticized “unfair practices” such as state subsidies that have undercut competitors, making projects economically unviable. 

In separate remarks, Vice President JD Vance said the U.S. aims “to eliminate that problem of people flooding into our markets with cheap critical minerals to undercut our domestic manufacturers.”

“We will establish reference prices for critical minerals at each stage of production,” Vance said. “For members of the preferential zone, these reference prices will operate as a floor maintained through adjustable tariffs to uphold pricing integrity.”

The developments come amid broader efforts by the Trump Administration to build stronger critical mineral supply chains. 

On Monday, President Donald Trump unveiled Project Vault, a $12 billion reserve backed by $10 billion from the U.S. Export-Import Bank and $2 billion in private funds, to stabilize prices and support manufacturers. The stockpile will include critical minerals such as rare earths, lithium and copper.