Leaders from the Group of Seven (G7) nations have provisionally agreed on a joint strategy to secure the supply of critical minerals, an initiative aimed at bolstering global supply chains and enhancing their economic security, according to a draft statement obtained by Reuters.
The agreement, reached Monday, outlines collaborative measures among the G7 countries—Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States—to ensure access to essential materials like lithium, cobalt, and rare earth elements. These minerals are vital in the production of renewable energy technologies, electric vehicle batteries, and other strategic industries.
The draft text indicates that the G7 will work to diversify sources of critical minerals, promote sustainability in mining and processing, and collaborate with like-minded partners. The group’s efforts are expected to reduce reliance on single sources of supply, particularly from regions where geopolitical tensions may pose risks to steady procurement.
“We recognize the strategic importance of critical minerals to our economies and our commitment to build resilient, transparent, and sustainable mineral supply chains,” the statement reportedly reads.
The move comes amid heightened global competition for natural resources, driven by an accelerating push towards decarbonization and technological transformation. Western nations have increasingly focused on safeguarding supply chains from potential disruptions due to trade disputes or political instability.
Officials expect the strategy to pave the way for greater investment in mining operations, research into alternative materials, and stronger coordination between governments and the private sector. Further details and commitments are anticipated during ongoing G7 discussions.
The provisional nature of the agreement indicates that final terms are still being negotiated and may evolve prior to a formal release. The G7 is expected to finalize its collective policy stance before the conclusion of upcoming high-level meetings.
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