Critical Minerals
Argentina signs strategic agreement with US on critical minerals
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Argentina and the United States signed an agreement in Washington D.C. to boost the supply and processing of critical minerals, vital for new technologies. Foreign Minister Pablo Quirno and his counterpart Marco Rubio took part in the signing at the Ministerial Meeting on Critical Minerals on February 4, 2026.
On January 28, 2026, China's Zijin Mining announced a US$4 billion takeover of Allied Gold's three African mines. On February 3, Swiss mining giant Glencore entered talks to sell a 40 per cent stake in its Democratic Republic of Congo (DRC) copper and cobalt operations to the US-backed Orion Critical Mineral Consortium. These developments underscore the escalating competition between China and the United States over critical minerals.
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The United States announced on Wednesday that it will work with Japan and European countries to develop an action plan for securing critical minerals supplies, amid concerns over potential Chinese export restrictions on rare earths. The initiative seeks to establish a trade bloc with allies to stabilize procurement. The U.S. Trade Representative's office indicated exploration of a plurilateral trade initiative with like-minded partners.