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US VP Vance: "No realer thing than critical minerals" at global summit

US Vice President JD Vance opened the inaugural Critical Minerals Ministerial by asserting that critical minerals are as fundamentally real to the economy as oil and gas. He recalled a conversation with President Donald Trump to underscore that despite the digital economy, growth still relies on physical resources. The ministerial, bringing together delegations from over 50 countries, aims to advance collaboration on securing and diversifying global supply chains. This follows the recent US announcement of Project Vault, an initiative to create a Strategic Critical Minerals Reserve.

Key Points: US VP Vance Stresses Critical Minerals as Foundation of Economy

  • Vance highlights minerals as economic foundation
  • Calls for predictable prices and supply chain support
  • Over 50 countries represented at ministerial
  • US announces Project Vault strategic reserve
  • Goal is greater independence and self-reliance
2 min read

"No realer thing than critical minerals": US VP Vance at inaugural Critical Minerals Ministerial

US Vice President JD Vance emphasizes critical minerals' vital role, aligning with Trump's energy views and announcing Project Vault at global ministerial.

"There is no realer thing than critical minerals - JD Vance"

Washington DC, February 4

US Vice President JD Vance on Wednesday highlighted the irrefutable importance of critical minerals during his remarks at the inaugural Critical Minerals Ministerial being hosted by the United States.

The US VP recalled the operation in Venezuela and his conversation with US President Trump on the importance of access to oil and gas for the global economy.

"As much as we talk about the modern and digital economy, President (Trump) said something very important that should inform how we think about the future of growth- as much as data centres, technology and all the in credible things we are working on matter, fundamentally you still have an economy that runs on real things. There is no realer thing than oil- and I would add to that-- there is no realer thing than critical minerals", Vance said.

In his remarks, the US VP noted how this initiative is where this alliance can help one another.

"We are all in the same team and growing in the same direction. We have close to 2/3rds of the world's GDP represented. We have the capacity to make ourselves more independent and more self-reliant," Vance said.

He gave a call for making prices more predictable to support supply chains and underlined the importance of confronting problems together.

The United States is hosting the inaugural Critical Minerals Ministerial in Washington DC, bringing together delegations from over 50 countries to advance collaboration on securing and diversifying global critical mineral supply chains, according to a prior notice issued by the Office of the Spokesperson of the US State Department.

Prior to the Ministerial, on Monday, US President Donald Trump announced Project Vault, a supply chain security initiative, which will create the US Strategic Critical Minerals Reserve--an independently governed public-private partnership designed to store essential raw materials at facilities across the country.

Rubio is chairing the ministerial, and the gathering is being described as a historic effort to build collective momentum for cooperation to secure critical minerals essential to technological innovation, economic growth, and national security.

- ANI

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Reader Comments

P
Priya S
Vance is right about the economy running on "real things." While we chase software and IT, we cannot neglect our mining and manufacturing base. China dominates this space. India must actively join such global alliances to secure supply chains for our EV and semiconductor ambitions. 🇮🇳
R
Rohit P
Interesting to see the US pushing for collective action. Hope India is at the table with a clear strategy. We need to balance partnerships with protecting our own resources. The 'Project Vault' idea is something our government should study for our own strategic reserve.
S
Sarah B
While the focus on supply chain security is valid, I hope environmental and social governance isn't forgotten in this rush for minerals. Indian mining projects often face local opposition due to displacement and ecological damage. Global standards must apply to everyone.
V
Vikram M
"We are all in the same team" – easier said than done. The US has a history of protectionist policies. India must be cautious and ensure any collaboration is truly mutually beneficial, not just serving the interests of developed economies. Our KABIL (Khanij Bidesh India Ltd) should lead from the front.
K
Karthik V
This is the new geopolitics. Whoever controls these minerals controls the future of tech, defence, and clean energy. India missed the bus on the oil economy. We cannot afford to miss this one. Time for aggressive exploration and international partnerships with countries in Africa and South America.

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