Approximately 30 countries are set to join the club for trade in critical minerals, according to U.S. Secretary of the Interior Doug Burgum.

Doug Burgum, the U.S. Secretary of the Interior, stated that approximately 30 countries, including Japan, Australia, and South Korea, wish to join a club aimed at trade in critical minerals, with the goal of reducing dependence on China.

At a recent conference, Burgum mentioned that this week 11 more agreements will be announced. The club will facilitate trade without tariffs and will establish a minimum price for minerals. The U.S. also aims to counteract price manipulation of essential minerals, such as lithium and nickel, which are vital for the electric vehicle and technology industries.

Burgum also mentioned a project called Project Vault, which includes a $10 billion loan to support strategic mineral stocks.