G7 leaders agree on strategy to protect critical mineral supply, draft document says

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🗞️ Driving the news: G7 leaders have provisionally agreed on a new strategy to safeguard critical mineral supplies — such as rare earths, lithium, and cobalt — aimed at reducing dependence on Chinese exports, following Beijing’s April restrictions on vital minerals and magnets

🔭 The context: China is the dominant global supplier of refined rare earth elements — accounting for nearly 70 percent of production — and its export curbs disrupted industries ranging from automotive and semiconductors to defense
• The G7’s draft underscores that "non‑market policies and practices" threaten economic and national security, urging markets to price in the real costs of responsible extraction, processing and trade

🌍 Why it matters for the planet: This push supports the clean-energy transition, as critical minerals are essential for electric vehicles, wind turbines, and batteries
• Diversifying mining, processing, and recycling enhances resilient, environmentally more responsible supply chains

⏭️ What's next: Leaders plan to operationalise the strategy through coordinated reserve building, market disruption response protocols, multi-country supply investments, and recycling initiatives
• Pending formal approval — especially from President Trump — the group may also engage non-G7 partners and initiate public–private partnerships to mobilise capital

💬 One quote: “Non‑market policies and practices in the critical minerals sector threaten our ability to acquire many critical minerals,” reads the draft statement 

📈 One stat: China produces nearly 70 percent of the world's refined rare earth elements

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