ÉVIAN, France, June 17, 2026 /CNW/ - "We, the leaders of the G7, recalling the Critical Minerals Action Plan we launched last year, recognise the strategic role of critical minerals value chains for our countries' economic prosperity and security, including our digital and energy sectors. In light of the high degree of market concentration, the need to reduce vulnerabilities regarding those resources and the growing use of arbitrary trade restrictions, we recall the urgency of diversifying our supply chains and building our collective resilience. Australia, partner country of the G7, also supports this 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 and their related dual-use items, all of which undermine economic security and resilience. We will work together with partners to reduce critical dependencies and ensure that attempts or threats to weaponize economic dependencies fail. We seek to deter and stand ready to take actions, where necessary in a coordinated manner, against economic coercion.
We further recognise the importance of maintaining and strengthening our midstream and downstream industries' competitiveness, including in relation to critical minerals, by protecting critical technologies and commit to working within the G7 and with partners to coordinate on policy measures for technology control.
We recognise the pivotal role of international cooperation among G7 and like-minded countries, pursuing mutually beneficial partnerships based on high-quality standards and transparency to ensure diversified, resilient and durable supply chains to the benefit of the global economy. To that end, we reaffirm the G7 Roadmap to Promote Standards-based Markets for Critical Minerals.
Building on previous commitments of the G7 and on the Critical Minerals Production Alliance set up under the Canadian presidency of the G7 in 2025, we commit 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 value chains, including by supporting local value creation and promoting innovation.
To this end, we, together with partner countries, will cooperate closely to advance production, processing and recycling projects across the entire supply chain. We will promote the development of coordinated projects through demand aggregation and the mobilisation of public and private collective financial capacities. In so doing, we aim to significantly reduce our dependencies on a single supplier outside the G7 and partner countries for rare earths and permanent magnets to under 60 per cent by 2030 and continuing to decrease further over time, with an ambition to reach 50 per cent as soon as possible. For other critical minerals, we task the relevant ministers with setting a specific target for reducing these dependencies before the end of the year.
We welcome the progress towards these goals, especially through the 195 projects announced since the beginning of 2026 that have reached 64 billion euros of investment including equity participation and offtake agreements in the critical minerals value chains from G7 and partner countries, and through the joint plan for developing industrial capacities for rare earth and permanent magnets.
We recognise that the development of industrial capacity, including processing and recycling, necessary for diversification, requires the mobilisation of public and private capital, including equity investments, guarantees and offtakes. We recognise the increasing need for stable investment frameworks and for market transparency and valuation for the security of supply. This could incentivise financing of the critical minerals value chains to bridge the investment gap before 2030.
We encourage accelerating the mobilisation of multilateral development banks (MDBs) and development partners to design and implement strategies that lift global mining standards between G7 members and like-minded partners as well as in developing countries. These efforts will enhance the diversification, resilience, security and reliability of critical minerals supply chains worldwide, including through quality-based procurement approaches and sustainable mining practices. They exemplify our renewed approach to international partnerships. To ensure greater impact, we task the G7 Development Finance Institutions (DFIs) and export credit agencies to enhance coordination and collaboration on critical minerals and enabling infrastructures, including with the private sector.
We further recognise that ensuring the long-term viability of diversified supply capacities requires an appropriate market environment and closer cooperation with trusted partners, including through plurilateral trade agreements.
In this regard, we intend to continue to discuss the feasibility and development of policies and mechanisms that would be necessary to ensure supply chain resilience and diversification, in a coordinated manner where relevant. These policies and mechanisms may include, as appropriate, resilience criteria, standards-based approaches, transparency and traceability mechanisms. We also continue to explore demand and supply-side measures such as diversification requirements, revenue stabilisation mechanisms including price-gap subsidies, joint procurement instruments and trade-related instruments such as quotas and price floors. These measures should take into account factors such as their effectiveness and potential impacts on competitiveness, public finances, macroeconomic conditions overall and in particular on midstream and downstream industries, as well as the costs of inaction.
We recognise the importance of strong transparency and traceability frameworks to ensure supply chain security and the compliance with high standards in resilient market environments, as well as tackling illegal trafficking of critical minerals. Acknowledging ongoing work by the Organization for Economic Cooperation and Development (OECD) and International Energy Agency (IEA), we are committed to working towards establishing harmonised, interoperable mechanisms aligned with our interests that ensure traceability and transparency regarding the origin of critical minerals. This would start with two pilot critical minerals – lithium and nickel – and aim to avoid undermining competitiveness or imposing excessive cost burdens. We will seek to extend the pilot to five new critical minerals each year with particular attention given to rare earths.
We will work towards improved knowledge transparency of global raw material markets and supply chains, including through the development, voluntary and confidential exchange and publication of shared analytical tools, market indicators and better visibility on prices, supply, demand and processing capacities. We recognise the indispensable role of data underpinning this work. To reach those goals, we commit to working together through the platform below, that marshals existing work and capabilities in the OECD and the IEA Critical Minerals Security Program including in a structured dialogue with businesses.
We will seek to promote a level playing field in the extraction of critical minerals by aligning practices with internationally recognised labour standards and encouraging coordinated action to address systemic risks of forced labour, in accordance with the "G7 Toolkit for Standards-Based Criteria to Identify Risks of Forced Labour in the Extraction of Critical Minerals", adopted in June 2026.
We acknowledge the essential role that stockpiling can play in improving the security of supply and stability of the market. We commit to developing and increasing domestic capacities or stockpiling critical minerals in the industrial or the public sector, where appropriate for our respective economies, trade and national and collective security including through existing initiatives. We concur to exchange information on stockpiling systems, best practices and methodologies and procurement and release mechanisms, particularly through the IEA Critical Minerals Security Program and by drawing on the expertise of relevant institutions and initiatives such as Japan Organization for Metals and Energy Security (JOGMEC). We intend to leverage stockpiling mechanisms to support the diversification of critical minerals supply chains, including in partner and emerging economies.
To facilitate supply crisis anticipation and management and to prevent price instability, we commit to establish a joint cooperation mechanism with the help of the IEA and its data environment. This mechanism would allow us to share, when necessary, with G7 members and like-minded countries data and alerts on future market stress or disruption in supply or demand.
Convinced that the circular economy and substitution are key to addressing the growing demand of critical minerals and to securing the supply of critical minerals, while contributing to mitigate environmental impacts, we recognise the importance of promoting efficient design, reuse, repair and remanufacturing of products and components rich in critical minerals. We will make efforts to advance the recycling of critical minerals by supporting both the supply of and demand for recycled critical minerals and establish efficient and competitive secondary raw materials markets, through economic and regulatory incentives such as recycled content requirements.
Furthermore, we promote recovery from alternative and secondary sources, such as mine waste and tailings reprocessing, for residual critical minerals and associated by-product elements, while recognising the benefits of trade in recyclable materials amongst trusted partners and of technological innovations to reinforce recycling. We call on continued collaboration on innovation through the Conference on Critical Minerals and Materials. We seek to increase and enhance the collection and recycling capacity of the G7 to avoid the leakage of valuable and end-of-life products containing critical raw materials and to better combat the illegal transfer of waste rich in critical minerals by improving its traceability and enforcement of relevant laws and international frameworks. We recognise digital traceability and extended producer responsibility schemes for manufactured products are effective tools for helping to achieve these objectives of developing a circular economy for critical minerals. We also recognise the opportunity for emerging market and developing economies to benefit from capturing added value through the recycling and secondary processing of their mining waste, as well as from circular economy innovations.
We aim to sharply increase the recycling rates for critical raw materials with the commitment to monitor and assess progress. We will work towards recycling targets by the end of the year for selected critical minerals or their derivatives. Our aim is to increase our collective recycling capacity capable of producing a significant share of the annual consumption of G7 members by the end of 2030.
To achieve these objectives and ensure long-term coordination of our efforts, we establish a non-binding G7 Critical Minerals Resilience and Production Alliance, whose terms are annexed to this declaration. This initiative builds on the existing Critical Minerals Production Alliance and will be open to like-minded partners subject to the approval of participating countries. The Alliance provides a comprehensive platform for cooperation within the G7 and partner countries to strengthen the diversification and resilience of critical minerals value chains and streamline existing initiatives on critical raw materials.
To support the implementation of the Critical Minerals Resilience and Production Alliance, a G7 platform for Critical Minerals Cooperation, operating under the G7 and other platform members, will facilitate discussion, support data-driven decision-making and foster coordination among members. The platform will consult, as it deems appropriate, the IEA Critical Mineral Security Program and OECD, to provide analytical and data-driven assessments of market developments and supply chain vulnerabilities, facilitate information-sharing on stockpiles, conduct emergency exercises and monitor progress in financing, diversification and transparency commitments. We call on the IEA and the OECD to provide data, in line with their expertise, allowing members to identify and receive early warnings of market distortions and plan for coordinated responses.
This declaration reflects the outcome of the discussion between G7 members, benefiting from productive exchanges of views with."
This document is also available at https://pm.gc.ca
SOURCE Prime Minister's Office
PMO Media Relations: [email protected]
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