G7 Takes Aim at China’s Grip on Critical Minerals

AI Summary

At the G7 summit in Evian, the leaders formed a strategic alliance to reduce China's dominance over critical minerals vital for defense, automotive, and clean energy sectors. The declaration highlights commitments to diversify processing and industrial capacities among G7 and partner countries.

The leaders of the G7 have created a strategic alliance on critical minerals in a coordinated effort to break China’s oversized control of the metals and minerals and rare earth elements crucial to the defense, automotive, and clean energy industries. At the G7 summit in Evian, France, the leaders of G7 issued a declaration in which the nations committed “to coordinating efforts within the G7 and with partner countries to establish and develop the necessary processing and industrial capacities for diversification of our critical minerals…