Critical Supply

Critical Supply: Nothing’s Quiet on The Mineral Front

The U.S. and Japan activated a three‑page Critical Minerals Action Plan that introduces a border‑adjusted price floor to block Chinese price dumping and explores a Mutual Recognition Agreement for standards. In Europe, the long‑awaited EU‑U.S. minerals pact is lagging due to political frictions, while U.S. firm Virtus secured a $30 million purchase of DRC cobalt‑copper producer Chemaf and pledged $700 million to retire its debt, linking the deal to the Lobito Corridor. Negotiations with Brazil have stalled as President Lula’s critical‑minerals legislation remains in Congress. Meanwhile, China’s new industrial‑policy playbook and a Chinese AI firm’s move to Mongolia underscore the global scramble for supply‑chain control.