Nickel: a hard, ductile transition metal powering modern industry
G7 leaders have agreed to reduce reliance on China for critical minerals by 2030, with binding quotas on some sectors and a platform to boost recycling, mining and cross-border cooperation. The move follows Beijing's export curbs on rare earth magnets and aims to coordinate data and crisis response through a new IEA-backed platform.
The G7 has aimed to reduce dependence on a single supplier for critical minerals by building stockpiles and coordinating with partners. Leaders say they will share expertise on stockpiling, with Japan showcasing its civilian-use mineral reserves and procurement diversification.
The UN and world powers are pressing for governance reform as demand for critical minerals rises. Leaders warn that without local processing and stronger rule of law, mining profits will bypass local communities and fuel conflict. New commitments aim to channel wealth into public services and jobs amid a global scramble for cobalt, lithium, nickel and rare earths.