G7 sets minerals alliance, eyes trade tools to cut China reliance
By Oscar Pandiello ( June 17, 2026, 15:39 GMT | Insight) -- Leaders of the G7 economies have agreed to set up a critical-minerals alliance aimed at reducing dependency on a single non-G7 supplier for rare earths and permanent magnets to under 60 percent by 2030. The statement keeps China unnamed, but reflects mounting alarm over Beijing’s export controls and dominance of processing and magnet supply chains. Leaders also said they would explore quotas, price floors, joint procurement and stockpiling.Leaders of the G7 on Wednesday agreed to set up a new critical-minerals alliance and step up production, processing and recycling projects across the supply chain, in a push to reduce dependency on China for minerals needed in key industries....
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