Anand to attend U.S. meeting on critical minerals in Washington

Foreign Affairs Minister Anita Anand will meet with her international counterparts in Washington on Wednesday as the Trump administration makes a case for collaboration to push back on China’s dominance over critical minerals.

U.S. Secretary of State Marco Rubio is hosting representatives from European, African and Asian nations looking for commitments to incentivize investment in critical mineral supply chains.

The State Department said in a statement announcing the meeting that the gathering “will create momentum for collaboration” among the participants to secure access to rare earths.

The international confab at the State Department comes after U.S. President Donald Trump announced Monday the creation of “Project Vault,” a strategic reserve of rare earth elements.

While the United States does have reserves for defence purposes, the Trump administration said the new vault would help shield the manufacturers of autos, electronics and other goods from any supply chain disruptions.

The vault would initially be funded by a $10 billion loan from the U.S. Export-Import Bank and nearly $1.67 billion in private capital.

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Stopping China’s stranglehold on rare-earth minerals became a key priority last year after Trump escalated his trade war between the world’s two largest economies in with massive tariffs. Beijing responded with retaliatory duties and export restrictions on various critical mineral exports to the U.S., causing anxiety throughout supply chains.

The Trump administration has already signed critical mineral agreements with countries including Australia and Japan. Additional bilateral agreements are expected to be inked on Wednesday.

It’s not clear what the Trump administration wants from Canada during Wednesday’s meeting. The meeting’s agenda may include discussions of price floor mechanisms, sustainable production costs and financing tools.

Canadian officials had made collaboration around rare earths a talking point with counterparts in Washington as the bilateral relationship has been shaken by Trump’s tariffs and Ottawa lays the groundwork for a mandatory review of the Canada-U.S.-Mexico agreement on trade later this year.

Canada and the U.S. Department of Defense already have a co-investment deal to accelerate Canadian mining development and strengthen critical minerals supply chains.