Ministers from around 20 countries, including the US, EU, UK, Canada, Japan, Australia, New Zealand, India and South Korea, will meet in Washington this week to discuss forming a strategic alliance on critical minerals and rare earths. Mexico and Argentina are also expected to be part of the discussions, reflecting growing interest from resource-rich economies in strengthening alternative supply chains.
The talks aim to reduce dependence on China for minerals that are essential to clean energy, defence, electronics and advanced manufacturing. G7 members — the US, UK, France, Germany, Italy, Japan and Canada — will join partner nations to coordinate investment, stockpiling and long-term supply security.
One key issue under discussion is whether the US should support minimum pricing mechanisms for critical minerals to encourage production outside China. While the idea has drawn interest from several producer countries, Washington has shown reluctance to offer guaranteed pricing.
Australia recently announced plans to establish a A$1.2 billion strategic reserve of minerals such as antimony and gallium, citing risks of supply disruption. Japan and Canada have already taken steps to build reserves and diversify sourcing, while countries such as Mexico and Argentina are being viewed as potential contributors to future supply due to their mineral resources.
Officials attending the summit hope to accelerate the development of non-China supply chains through closer cooperation, investment incentives and long-term agreements. European officials see the meeting as an important step toward deeper coordination among allies to reduce economic reliance on China.
Critical minerals and rare earths are vital inputs for technologies ranging from electric vehicles and wind turbines to smartphones and military equipment. Europe remains heavily dependent on China, particularly for permanent magnets used in advanced manufacturing.
If the talks progress positively, participating countries are expected to issue a joint statement outlining shared commitments and next steps toward building a more secure and diversified critical minerals supply network.