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Launched last year, Pax Silica forms part of the Trump administration’s broader strategy to reduce reliance on China and strengthen cooperation with allied countries. The initiative also aims to secure access to critical minerals essential for advanced technology production.
“This initiative can give Norwegian companies better access to advanced technological value chains,” Norway’s Trade and Industry Minister Cecilie Myrseth said in a statement.
According to Semafor, the US is expected to formally announce Norway’s participation in the group this week.
US State Department official Jacob Helberg said Norway’s role is significant due to its economic and resource strength. “Norway is home to the world’s largest sovereign wealth fund, and the depth of that institutional capital combined with critical mineral reserves are important,” he told Semafor in an interview.
The Norwegian government confirmed that it will formally sign the initiative on Wednesday.
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