South Korea to lead US critical minerals initiative

South Korea will chair the US critical minerals initiative, the Forum on Resource Geostrategic Engagement (FORGE), through June, the State Department announced.

FORGE, launched as the successor to the Minerals Security Partnership (MSP), aims to reshape the global market for critical minerals and rare earths.

US Secretary of State Marco Rubio said the forum will lead "with bold and decisive action to address ongoing challenges in the global critical minerals marketplace."

The announcement came at the 2026 Critical Minerals Ministerial, hosted Wednesday by Vice President JD Vance, Rubio, and other senior officials.

Delegations from 54 countries, including 43 foreign ministers and the European Commission, attended.

Addressing the ministerial, Vance said the Trump administration plans to form a critical minerals "preferential trade zone" with partner nations.

He said the goal is to stop cheap critical minerals from flooding US markets and undercutting domestic manufacturers, likely a reference to Chinese trade practices.

Beijing rejected the proposal Thursday, calling it a "small-circle" approach.

Chinese Foreign Ministry spokesman Lin Jian said maintaining an open, inclusive and mutually beneficial international trade environment serves the common interests of all nations.

"China opposes any country undermining the international economic and trade order through 'small-circle rules," he told reporters in Beijing.