G7 moves to secure critical minerals supply chains

President William Ruto meet Korean President Lee Jae Myung on the sidelines of the G7 Summit in France on June 17, 2026. [PCS]

The Group of Seven (G7) leaders have unveiled an  ambitious plan to strengthen and diversify global supply chains for critical minerals.

The leaders have cited growing concerns over economic coercion, market concentration, and the strategic importance of minerals used in clean energy, digital technologies, and defense industries.

In a declaration issued following their summit discussions, the leaders reaffirmed the urgency of reducing dependence on a limited number of suppliers and building resilient supply chains for minerals such as lithium, nickel, rare earth elements, and other resources essential to the global energy transition. Australia, a partner country of the G7, also endorsed the declaration.

“We express our grave concerns regarding the use of non-market policies and practices and economic coercion, including arbitrary export restrictions and retaliatory measures on critical minerals,” the leaders said, warning that such actions threaten economic security and industrial resilience. 

Critical minerals have become increasingly important as countries race to expand renewable energy technologies, electric vehicle production, battery manufacturing, and advanced digital infrastructure.

However, much of the global processing and refining capacity remains concentrated in a few countries, creating vulnerabilities for major economies.

To address these concerns, the G7 committed to working with partner nations to expand mining, processing, recycling, and manufacturing capacity across the entire critical minerals value chain.

The leaders announced a target of reducing dependence on any single supplier outside the G7 and partner countries for rare earths and permanent magnets to below 60 percent by 2030, with a long-term ambition of reaching 50 percent. 

The declaration notes that progress is already underway, with 195 projects launched since the beginning of 2026, attracting investments worth €64 billion in critical minerals value chains. 

The leaders also pledged to mobilize public and private financing, improve market transparency, and support sustainable mining practices globally. They called on multilateral development banks and development finance institutions to increase cooperation and investment in critical minerals infrastructure. 

In addition, the G7 announced plans to establish harmonized traceability systems beginning with lithium  and nickel to improve transparency, combat illegal trafficking, and ensure adherence to high environmental and labor standards. 

Recognizing the growing role of recycling, the leaders pledged to boost recovery of critical minerals from used products and mining waste while promoting a circular economy. They also committed to expanding stockpiles and creating mechanisms to monitor supply disruptions and market stress. 

To coordinate these efforts, the G7 established a new Critical Minerals Resilience and Production Alliance, aimed at strengthening cooperation among member states and trusted partners while enhancing the security of global supply chains for decades to come.