U.S. and Italy Sign Critical Minerals MOU

Why it matters locally: While New Mexico's economy is not primarily driven by critical mineral extraction, the state does have known deposits of some critical minerals. This national agreement could indirectly influence future federal policy and investment related to critical mineral supply chains, potentially affecting any future development or research in New Mexico.

NEW YORK CITY — U.S. Secretary of State Marco Rubio and Italian Deputy Prime Minister and Foreign Minister Antonio Tajani formally signed a Memorandum of Understanding (MOU) on critical minerals on September 21, 2026. The signing occurred at the Lotte New York Palace. Secretary Rubio stated, "Italy has been a great partner and one we continue to want to work with." He noted the importance of the critical minerals topic, which he described as being under constant consideration. Deputy Prime Minister Tajani emphasized the significance of the agreement for Italy. He stated, "For Italy it is very important to sign this Memorandum of Understanding." Tajani described Italy as Europe's second-largest industrial country and the fourth-largest globally in trade. He highlighted the importance of raw material prices for Italy's industrial policy. Tajani characterized the agreement with the United States as a "key point" for Italy's strategy. He mentioned previous collaboration, including Italy's participation in an event organized by Rubio in Washington. He indicated that the MOU serves as a follow-up to that conference. He further explained that the agreement supports Italy's aim to compete internationally. Tajani stated the importance of reduced raw material prices to achieve this objective. He concluded that the signing marked "a leap forward, a very important one" with the United States.