G7 expands critical minerals cooperation to de-risk from China
By Takuya Karube, KYODO NEWS - 14 hours ago - 13:48 | All, World, G7
The leaders of the Group of Seven democracies on Tuesday launched an action plan aimed at reducing risks to critical mineral supply chains, often resulting from overdependence on China.
The leaders, gathered in Canada for their annual summit, said they agreed to step up cooperation within the group and with like-minded countries to protect economic security against threats such as nonmarket practices sometimes seen in the sector.
The strategy was unveiled at a time when China dominates the global supply of rare earths and other minerals essential for modern technologies, with a track record of weaponizing export controls.
The areas of cooperation mapped out in the plan, which does not mention China by name, include monitoring for critical minerals shortages, coordinating responses to "deliberate market disruption," and diversifying and onshoring, where possible, mining, processing, manufacturing and recycling.
The leaders of Britain, Canada, France, Germany, Italy, Japan and the United States, as well as the European Union, said the G7 will develop a road map by the end of the year for "standards-based" markets for critical minerals that reflect the real costs of extraction, processing and trade.
The G7 will also cooperate more closely together to increase investment in "responsible" critical minerals projects.
"They stressed the importance of constructive and stable relations with China, while calling on China to refrain from market distortions and harmful overcapacity," Canadian Prime Minister Mark Carney said in his chair's summary after hosting the summit in the mountain resort of Kananaskis.
Before returning to Tokyo, Japanese Prime Minister Shigeru Ishiba told a press conference in Calgary that he had underscored the importance of the G7's further engagement in the Indo-Pacific region and "we agreed to work together to address various issues surrounding China."
Making a departure from its usual practice, the 50-year-old group did not issue a comprehensive joint statement at the end of their two-day discussions, which G7 officials said reflected the difficulty of agreeing on language over key issues following the return of U.S. President Donald Trump.
Under such circumstances, they instead endorsed other documents that Canada calls "action-oriented" papers, including those related to cooperation on artificial intelligence, quantum technologies and transnational repression.
On Tuesday, a day after Trump abruptly exited the summit, the six other G7 leaders rallied around Ukraine, at a time when Russia continues to bombard civilian targets and reject cease-fire proposals.
They discussed the situation in Ukraine with its President Volodymyr Zelenskyy and NATO chief Mark Rutte, both of whom were invited as guests.
"We are resolute in pursuing all options to maximize pressure on Russia, including financial sanctions," Carney said at a closing press conference, emphasizing that Trump also endorsed this stance.
During a session dedicated to Ukraine, Ishiba made the case that the G7's continued unity is vital to push Russia to take concrete action for "an early, full cease-fire and, ultimately, a just and lasting peace," according to the Japanese government.
It said Ishiba, who attended a G7 summit for the first time, also voiced serious concern about the deepening ties between Russia and North Korea, warning that Pyongyang receiving more assistance from Moscow would pose security threats to the Indo-Pacific region and beyond.
On the second day of discussions, some other leaders from outside the group, including Australia, India and South Korea, joined their G7 counterparts in a session on energy security.
Besides the summit, they were hoping to hold pull-aside talks with Trump, but the U.S. president left a day earlier, citing the need to work on what he called a "real end" to Iran's nuclear program as it and Israel exchanged air strikes for a fifth day.
Before his departure, Trump had also been scheduled to meet with Zelenskyy.
In a statement released late Monday, the G7 leaders called for de-escalation in the Middle East and said Iran is a "principal source of regional instability and terror."
They also backed the security of Israel, which last week launched unprecedented strikes on Iran that killed top military commanders and damaged nuclear sites.
Related coverage:
Japan, U.S. fail to reach tariff deal at Ishiba-Trump summit
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