Overview
- G7 leaders agreed on June 17 to create a non-binding Critical Minerals Resilience and Production Alliance to coordinate diversification, stockpiling, crisis response and information sharing.
- The group set a measurable goal to reduce any single non-G7 supplier’s share of rare earths and permanent magnet imports to under 60 percent by 2030 with an ambition to reach 50 percent.
- The alliance will launch interoperable traceability pilots for lithium and nickel with the International Energy Agency providing market monitoring and early-warning data.
- Governments have mobilized a pipeline of projects and financing—195 projects worth about €64 billion announced since early 2026—but concrete market tools such as price-gap subsidies, joint procurement or price floors remain under negotiation.
- China defended its export controls and criticized the G7’s move as exclusionary, while officials including Canada’s Tim Hodgson offered priority access to national stockpiles and industry faces higher costs and years of investment to build new processing capacity.