On Friday 24 April, US Secretary of State Marco Rubio and European Union Trade Commissioner Maroš Šefčovič signed a memorandum of understanding (MoU) for an updated US-EU strategic partnership on critical minerals in Washington DC, highlighting the importance of strategic, allied supply chains.
The strategic agreement includes an EU-US Critical Minerals Action Plan focused on bilateral cooperation across the critical minerals value chain, from exploration to extraction, processing, refining, recycling, and recovery, with additional support focused on innovation and investment.
The agreement will additionally include measures focused on supply-and-demand market dynamics, ensuring that resources go towards where they are most needed.
Speaking at the signing ceremony, Rubio noted that the MoU only works if it is brought to life through action, rather than just words on paper — words which Šefčovič echoed.
“If you look at the buying power and the economic productivity power of the combination of the United States and the European Union, it’s extraordinary,” Rubio says.
“We are, combined, the largest customers and users of the world and have to ensure that these supplies and these minerals are available for our countries and in ways that are not monopolised in one place or concentrated together in one place.
“We have to have reliable, affordable sources for this.”
Šefčovič also notes that the MoU is strategically important to strengthen the relationship between the EU and the US.
“I totally agree with Mr Secretary that now the real test will be the execution of this project, how can we transform this agreement, which we are signing into a concrete, tangible project to deliver for our business operators.”
In addition to the MoU, Šefčovič and US Trade Representative Jamieson Greer outlined an Action Plan for Critical Minerals Supply Chain Resilience, paving the way for potential plurilateral trade with global partners.
The action plan sets out opportunities for strengthened trade policies and other instruments that reinforce coordinated international action, including border-adjusted price floors, standards-based markets, price-gap subsidies, and offtake agreements.
The action plan also outlines goals for the standardisation of mining, processing, and recycling, while promoting further investment, research and innovation, stockpiling strategies, and other ways to plan for supply disruptions.
This new plan follows another action plan signed on 19 March 2026 between the US and Japan, outlining a plan for critical minerals supply chain resilience between the two nations.
The strategic agreements executed between the US and other strategic partners, including the EU and Japan, among others, signal a commitment to safeguard economic and national security interests while reducing dependencies on Chinese supply.
The success of these partnerships, as mentioned, will ultimately hinge on how swiftly each side can turn policy alignment into on-the-ground projects that deliver real results.
Write to Amy Rotman at Mining.com.au
Images: Unsplash
