G7 Leaders Propose Strategy to Secure Critical Minerals Supply

The Group of Seven (G7) leaders have provisionally agreed on a strategy to protect the supply of critical minerals vital to various industries, including automotive, electronics, and defense. This move comes in response to China's April suspension of exports of key minerals, which disrupted global supply chains and highlighted Beijing's leverage over these resources. The draft statement, pending approval by U.S. President Donald Trump, calls for responsible extraction, processing, and trade, as well as coordinated efforts to anticipate shortages, counteract market disruptions, and diversify mining, manufacturing, and recycling. The G7 aims to work together and with partners beyond their group to safeguard economic and national security by reducing reliance on China and encouraging immediate investment in critical mineral projects. Although the draft does not explicitly name China, it addresses concerns over non-market policies threatening the sector. This unified front by major economies underscores the importance of securing critical minerals for economic stability and resilience.