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President Trump and other Group of Seven (G7) leaders
have launched an action plan to secure critical mineral supply chains after China moved to further tighten its control over many of these resources. China accounts for roughly 70 percent of global rare earth mining and
about 90 percent of processing capacity. At the G7 summit in France, members the United States, United Kingdom, Japan, France, Italy, Germany and Canada pledged to develop a road map to advance "standards-based markets for critical minerals," including rare
earth elements vital to industries ranging from clean energy and advanced manufacturing to defense technologies.
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