The moves come shortly after President Donald Trump announced the establishment of a U.S. critical mineral reserve.

Trump's move is aimed at cutting America's dependence on China for materials essential to electric vehicles, defense systems and advanced technology.

President Donald Trump plans to launch a $12 billion stockpile of rare earth minerals called Project Vault to curb U.S. dependence on China.

Other countries are expected to join Project Vault, which US president said would ensure that US businesses are ‘never harmed by any shortage’

The moves come shortly after President Donald Trump announced the establishment of a U.S. critical mineral reserve.

The stockpile is the latest move by the Trump administration to build a Western supply chain to counter China's dominance in critical minerals.

The aim of the group is to challenge China’s stronghold on the globe’s rare earth mining.