G7 sets up critical minerals alliance, platform to cut reliance on China

Published: Jun 17, 2026 22:02

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G7 has decided to strengthen cooperation in the field of critical minerals in order to reduce reliance on China’s supply chains. G7 leaders agreed to establish a critical minerals alliance and a coordination platform, while expanding the role of the International Energy Agency in market monitoring, data sharing, and risk warning. At the same time, member countries plan to coordinate their critical minerals stockpiling efforts and gradually develop harmonized and interoperable mechanisms, initially focusing on lithium and nickel, with plans to expand to additional minerals each year, particularly rare earth elements. In terms of targets, the G7 aims to reduce dependence on any single non-G7 supplier (implicitly China) for rare earths and permanent magnets to below 60% by 2030, and further to 50% as soon as possible. However, analysts note that this goal will be challenging, especially in the areas of rare earth processing and magnet production, where China currently accounts for around 90% of global capacity.

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