G7 Pledges to Diversify Critical Mineral Supply Chains

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G7 leaders have committed to diversifying global critical mineral supply chains to reduce dependence on a few countries. The joint statement released June 16 stresses building transparent, sustainable and reliable supply chains. The group also vowed to boost investment in domestic mining and processing and to support fair participation by developing countries.

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Leaders of the Group of Seven (G7) industrialized nations have agreed to promote the diversification of global critical mineral supply chains, according to a joint statement released on June 16.

The commitment comes amid G7 concerns that the supply of certain minerals vital for green technology and defense is concentrated in a few countries, posing risks to economic security and global supply chains.

The statement emphasizes the need to build transparent, sustainable and reliable supply chains, while encouraging cooperation with like-minded partners to mitigate the risk of supply disruptions.

G7 leaders also pledged to step up investment in the extraction and processing of critical minerals within member countries, as well as to support developing nations in participating fairly in this value chain.

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