International Coordinating Body
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Newly launched, chaired by South Korea through June 2026
China controls roughly two-thirds of global rare earth mining and about 90 percent of processing, a concentration the United States now treats as a national security threat. On February 4, 2026, Secretary of State Marco Rubio convened ministers from 54 countries in Washington to launch a preferential critical-minerals trade bloc with price floors, billions in financing, and FORGE, a new coordinating body.
Updated May 27
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