politics
G7 Leaders Agree on Plan to Cut Dependence on Single Supplier for Rare Earths
The Group of Seven nations set targets to limit any one country outside the group to no more than 60 percent of global rare earth and permanent magnet supply by 2030. The plan includes joint production, recycling, and traceability measures for critical minerals.
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The Group of Seven nations agreed on a plan to reduce reliance on any single supplier for rare earths and permanent magnets used in defense and technology products. Leaders released a joint statement Wednesday stating that no country outside the G7 and its partners should supply more than 60 percent of these materials by 2030, with a goal of reaching 50 percent as soon as possible.
The statement did not name any specific country.
U.S. tariffs. In November, the United States reached a one-year agreement with China to lift some of those controls. The G7 nations meeting in France this week include Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
G7 leaders said they will work together to increase production, processing, and recycling of critical minerals. They also committed to developing projects with partners and improving transparency and traceability systems. The group plans to begin traceability pilot programs for lithium and nickel, expanding each year to five additional minerals with a focus on rare earths.
Leaders said they aim to sharply increase recycling rates and set targets by the end of the year. The nations agreed to form a nonbinding G7 Critical Minerals Resilience and Production Alliance to coordinate these efforts. They will work with the International Energy Agency and the Organization for Economic Cooperation and Development on the traceability system.
