US EditionAnand to attend U.S. meeting on international collaboration on critical minerals
The $12 billion Project Vault aims to reduce reliance on China, backed by $10 billion from the U.S. Export-Import Bank and $1.67 billion in private capital, officials said.
- On Wednesday, Anita Anand, Canada's Foreign Affairs Minister, will meet with international counterparts in Washington at a ministerial hosted by U.S. Secretary of State Marco Rubio.
- The meeting aims to push back on China's dominance in rare-earths after a tariff-driven trade war made ending China's stranglehold a U.S. priority last year, while Beijing responded with export restrictions causing supply chain anxiety.
- Agenda items may include price floor mechanisms, sustainable production costs and financing tools, while Canada and the U.S. Department of Defense co-investment deal supports mining development and supply chains.
- Delegations are expected to sign additional bilateral agreements on Wednesday, and the U.S. State Department said the meeting `will create momentum for collaboration` to secure rare earths access.
- President Donald Trump announced Monday the creation of `Project Vault`, a $12 billion program funded by a $10 billion Export-Import Bank loan and nearly $1.67 billion in private capital.
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