An event was attended by representatives of at least 50 countries, the White House said.

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.

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.

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

The US government will launch a $12bn critical minerals stockpile as part of its efforts to counter Chinese dominance over key metals and support domestic manufacturers during shortages and emergencies.

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.