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

Published: Jun 17, 2026 22:02

Save

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.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

13 hours ago

H1 Refined Cobalt Price Surged over 97% YoY; Demand Remains the Current Focus; What Can the Market Expect Going Forward? [Weekly Observation]

13 hours ago

Jul 10, 2026 19:20

[SMM Analysis] Riding the Winds In and Outside China, Breaking the Iron Law of Old Cycles: 2026 Energy Storage Battery Cell Semi-Annual Review and Outlook

[SMM Analysis] In H1, the overflow of global utility-scale energy storage long-term contracts intertwined with the growing pains of production line upgrades. This not only completely shattered the cyclical pattern of "retreat after rapid rise" in the energy storage market, but also directly triggered a structural shortage and a strong price recovery for 314Ah battery cells. Furthermore, driven by the looming cancellation of tax rebates at year-end, an even more intense wave of "export rush" is gaining momentum, potentially pushing the full-year battle between volume and price to its peak.

Jul 10, 2026 19:20

Jul 10, 2026 18:49

[SMM Analysis] Separator Market 2026 Semi-Annual Review: Supply-Demand Pattern Tightens Marginally, Price Center Gradually Moves Up

Production-wise, China's cumulative production of lithium battery separators from January to June was approximately 17.416 billion m², of which wet-process separators accounted for 15.005 billion m², or 86.16%, and dry-process separators accounted for 2.411 billion m², or 13.84%.

Jul 10, 2026 18:49