A silvery metal shaping global critical minerals politics
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.
World leaders warn that competition for critical minerals has become a strategic contest, with supply chains at risk and developing nations bearing the costs. Authorities call for local processing, stronger international law, and coordinated investment to turn mineral wealth into development rather than conflict.