Anand to attend Washington meeting as U.S. seeks international collaboration on critical minerals

Foreign Affairs Minister Anita Anand will meet international counterparts in Washington for talks hosted by U.S. Secretary of State Marco Rubio, as the U.S. presses for cooperation on critical minerals. The meeting follows the Trump administration's announcement of 'Project Vault,' a reported $12-billion strategic reserve of rare earths.

Foreign Affairs Minister Anita Anand will join international counterparts in Washington for a State Department meeting hosted by U.S. Secretary of State Marco Rubio. The gathering is intended to build collaboration to secure access to rare earths and other critical minerals. It follows a U.S. announcement of a new strategic reserve for rare-earth elements called "Project Vault." The broader effort reflects U.S. moves to encourage investment and tie partners into supply chains. Key details: - Anita Anand will attend the Washington meeting with representatives from European, African and Asian nations, according to the announcing statement. - The State Department said the meeting "will create momentum for collaboration" to secure access to rare earths and to incentivize investment in critical mineral supply chains. - The U.S. announced "Project Vault," described as a $12-billion stockpile of critical minerals, and said it would be initially funded by a $10-billion Export-Import Bank loan and nearly $1.67-billion in private capital. - The administration has signed critical mineral agreements with partners including Australia and Japan, and additional bilateral agreements are reported to be expected at the Washington gathering. - It is not yet clear what specific commitments the U.S. is seeking from Canada; Canada and the U.S. Department of Defense already have a co-investment deal intended to accelerate Canadian mining development. The meeting agenda may include discussions of price floor mechanisms, sustainable production costs and financing tools. Summary: This meeting is part of a U.S.-led effort to build international collaboration aimed at securing rare-earth and critical mineral supplies and reducing reliance on concentrated sources. Some additional bilateral agreements are expected at the gathering, but what Canada may or may not commit to at this meeting is undetermined at this time.