WASHINGTON, Feb 4 (Reuters) - U.S. Vice President JD Vance told a meeting of than 50 countries on Wednesday aimed at boosting access to critical minerals that the U.S. will establish a system creating price floors for the commodities.

President Donald Trump launched the $12 billion "Project Vault" to stockpile critical minerals, reducing U.S. dependence on Chinese supply chains Monday.

The bank is the official U.S. export credit agency, and offers support including ​loan guarantees and direct loans. It plans to invest $100 billion to secure U.S. and allied supply chains for critical minerals, nuclear energy and liquefied natural gas, the organization's chair said in November.

The “Project Vault” initiative is intended to reduce U.S. reliance on China for key technology components.

Vice President JD Vance, Secretary of State Marco Rubio, and other senior Trump administration officials welcome delegations from over 50 nations to collaborate on critical minerals supply chains.

The Trump administration wants to create a critical minerals trading bloc with its allies that will use tariffs to maintain price floors and defend against China’s tactic of flooding the market to und

Frontier Lithium Inc. (TSX.V: FL) (FRA: HL2) (OTC: LITOF) ("Frontier" or the "Company") is pleased to provide a progress update on the infrastructure projects supported by Natural Resources Canada's (NRCan) Critical Minerals Infrastructure Fund ("CMIF") for the Company's flagship PAK Lithium Project (the "PAK Project" or the "PAK Lithium Project") in northwestern Ontario.

Critical minerals have already been at the center of mounting conflict between the U.S. and China. These tensions laid bare weakness in the supply chain.