G7 Aims to Ensure China Supplies No More Than 60% of Rare Earths

The Group of Seven (G7) nations agreed this week to limit any single country's share of critical mineral imports to a maximum of 60% by 2030. This initiative aims to decrease the G7's dependence on China for these essential materials. The agreement, revealed by individuals privy to the discussions, underscores a strategic shift in global supply chain management for resources vital to advanced technologies and clean energy. The G7 members are seeking to diversify their sources of critical minerals, which include rare earths, lithium, and cobalt, to bolster economic security and mitigate geopolitical risks. This target is part of a broader effort to build more resilient and secure supply chains for the future. The specific minerals targeted and the implementation mechanisms are expected to be detailed in subsequent policy announcements.