The U.S. moved to the forefront of the critical minerals debate this week, hosting allied nations in Washington to coordinate on supply chains while the Trump administration reportedly advanced plans for a $12 billion national reserve to shield domestic industry from disruptions. Meanwhile in Europe, the Court of Auditors warns that the bloc is missing its raw materials targets.
U.S. Plans to Reshape Global Market for Critical Minerals
The U.S. administration on Wednesday presented representatives from 54 countries and the European Union with its plans to reshape the global market for critical minerals. Seeking to make supply chains more stable and, in its view, fairer, Washington has proposed the creation of a preferential trade zone for critical raw materials. According to Vice President J.D. Vance, the zone would be protected from “unfair” external competition through fixed minimum price mechanisms.
It remains unclear which countries will ultimately join the trade zone proposed by Vice President Vance, although several governments have reportedly already expressed interest.
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Project Vault: U.S. to Launch $12 Billion Critical Mineral Stockpile
The Trump administration is preparing to launch a civilian critical minerals stockpile dubbed Project Vault, Bloomberg reports, citing senior government officials. With the $12 billion initiative, the U.S. aims to shield domestic manufacturers from supply disruptions and reduce reliance on China-dominated critical minerals supply chains. The project aims to procure and store rare earths and other critical minerals used across the automotive, aerospace, technology, and energy sectors.
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Court of Auditors Warns: EU Risks Missing Its Raw Materials Targets
In 2024, the EU launched the Critical Raw Materials Act to strengthen its raw material supply and reduce import dependency. Several targets are set to be achieved by 2030, including significantly expanding domestic mining and recycling. However, implementation is at risk of failure, according to a new report by the European Court of Auditors.
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Deep-Sea Mining: Japan Retrieves Rare Earth Samples from 6,000 Meters Depth
Japan is making progress in deep-sea mining: According to The Japan Times, a test drilling operation near the coral island of Minami-Torishima has been successful. The research vessel Chikyu is now returning with mineral-rich sludge recovered from a depth of approximately 6,000 meters.
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