February 1, 2026
Rare earths, raw nerves
US, UK, EU, Australia and more to meet to discuss critical minerals alliance
Allies plan a rare-metals club to dodge China; readers doubt US promises
TLDR: About 20 allies meet in Washington to build a critical minerals alliance and reduce reliance on China, even as the US balks at minimum price guarantees. Commenters blasted trust issues, slow 5–10 year build-outs, and US tariff drama, joking it’s “OPEC for rocks” and asking if missiles can wait.
Diplomats from the US, UK, EU, Japan, Australia and more meet in Washington to form a “critical minerals” club — rare metals that power phones, EVs, and fighter jets. Goal: depend less on China. But comments lit up with trust issues. One reader asked why the US wants a minimum price guarantee at all, and whether a maximum price with supply quotas would be smarter. Another torched the idea: “Let’s carve out the world again. It’ll totally work out.” Australia’s A$1.2bn stockpile drew jokes about an OPEC for rocks, especially after reports the US won’t back price floors sent Aussie mining shares wobbling.
Then came the reality check: commenters warned it can take 5–10 years to build plants that turn raw ore into usable stuff, asking if the US military can even restock missiles and jets before new supply chains exist. EU drama added spice, with insiders blasting America’s new “steel derivative” tariffs and demanding trust after last summer’s deals. Some said the plan might work better without the US, citing imploding politics. Meanwhile Japan’s long-running reserves got praise, and Australia vowed to go it alone if needed. Verdict: big summit, bigger skepticism. And yes, people asked who trusts Washington.
Key Points
- •Around 20 countries, including G7 members and partners, will meet in Washington to discuss a critical minerals alliance and de-risking from China.
- •Australia announced a A$1.2bn strategic reserve to stockpile minerals such as antimony and gallium amid concerns over Chinese supply restrictions.
- •Calls for a US-guaranteed minimum price for critical minerals are on the agenda; reports suggest Washington may not adopt the measure, impacting Australian shares.
- •The US State Department said strengthening critical mineral supply chains with partners is vital; a joint statement may follow if talks succeed.
- •The EU plans to press the US to drop global steel derivative tariffs, citing an initial list published in August and a threatened second list of up to 700 products.