G7 expands critical minerals cooperation to de-risk from China
The leaders of the Group
of Seven democracies on Tuesday launched an action plan aimed at
reducing risks to critical mineral supply chains, often resulting from
overdependence on China.
The leaders, gathered in Canada for their
annual summit, said they agreed to step up cooperation within the group
and with like-minded countries to protect economic security against
threats such as nonmarket practices sometimes seen in the sector.
The strategy was unveiled at a time when China
dominates the global supply of rare earths and other minerals essential
for modern technologies, with a track record of weaponizing export
controls.
The areas of cooperation mapped out in the
plan, which does not mention China by name, include monitoring for
critical minerals shortages, coordinating responses to "deliberate
market disruption," and diversifying and onshoring, where possible,
mining, processing, manufacturing and recycling.
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Group of Seven leaders, without the absent U.S. President Donald Trump,
meet during their summit in Kananaskis, Canada, on June 17, 2025, with
Ukrainian President Volodymyr Zelenskyy (front R) also in attendance.
(Kyodo) ==Kyodo
The leaders of Britain, Canada, France,
Germany, Italy, Japan and the United States, as well as the European
Union, said the G7 will develop a road map by the end of the year for
"standards-based" markets for critical minerals that reflect the real
costs of extraction, processing and trade.
The G7 will also cooperate more closely together to increase investment in "responsible" critical minerals projects.
"They stressed the importance of constructive
and stable relations with China, while calling on China to refrain from
market distortions and harmful overcapacity," Canadian Prime Minister
Mark Carney said in his chair's summary after hosting the summit in the
mountain resort of Kananaskis.
Before returning to Tokyo, Japanese Prime
Minister Shigeru Ishiba told a press conference in Calgary that he had
underscored the importance of the G7's further engagement in the
Indo-Pacific region and "we agreed to work together to address various
issues surrounding China."
Making a departure from its usual practice,
the 50-year-old group did not issue a comprehensive joint statement at
the end of their two-day discussions, which G7 officials said reflected
the difficulty of agreeing on language over key issues following the
return of U.S. President Donald Trump.
Under such circumstances, they instead
endorsed other documents that Canada calls "action-oriented" papers,
including those related to cooperation on artificial intelligence,
quantum technologies and transnational repression.
On Tuesday, a day after Trump abruptly exited
the summit, the six other G7 leaders rallied around Ukraine, at a time
when Russia continues to bombard civilian targets and reject cease-fire
proposals.
They discussed the situation in Ukraine with
its President Volodymyr Zelenskyy and NATO chief Mark Rutte, both of
whom were invited as guests.
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Ukrainian
President Volodymyr Zelenskyy (far R, facing camera) joins six of the G7
leaders and others during their summit in Kananaskis, Canada, on June
17, 2025. (Kyodo) ==Kyodo
"We are resolute in pursuing all options to
maximize pressure on Russia, including financial sanctions," Carney said
at a closing press conference, emphasizing that Trump also endorsed
this stance.
During a session dedicated to Ukraine, Ishiba
made the case that the G7's continued unity is vital to push Russia to
take concrete action for "an early, full cease-fire and, ultimately, a
just and lasting peace," according to the Japanese government.
It said Ishiba, who attended a G7 summit for
the first time, also voiced serious concern about the deepening ties
between Russia and North Korea, warning that Pyongyang receiving more
assistance from Moscow would pose security threats to the Indo-Pacific
region and beyond.
On the second day of discussions, some other
leaders from outside the group, including Australia, India and South
Korea, joined their G7 counterparts in a session on energy security.
Besides the summit, they were hoping to hold
pull-aside talks with Trump, but the U.S. president left a day earlier,
citing the need to work on what he called a "real end" to Iran's nuclear
program as it and Israel exchanged air strikes for a fifth day.
Before his departure, Trump had also been scheduled to meet with Zelenskyy.
In a statement released late Monday, the G7
leaders called for de-escalation in the Middle East and said Iran is a
"principal source of regional instability and terror."
They also backed the security of Israel, which
last week launched unprecedented strikes on Iran that killed top
military commanders and damaged nuclear sites.