Japan's Economy Minister Takaichi stated on June 16 that the Group of Seven (G7) has supported Japan's proposal to set up joint stockpiles of essential minerals, a move aimed at ensuring a stable supply of key materials for high-tech manufacturing and clean energy.
The announcement comes as G7 nations seek to reduce dependence on supply chains from certain countries, particularly in the sector of rare minerals and rare earths. Japan's proposal calls for G7 members to jointly build a common reserve system, allowing resource sharing during supply disruptions.
According to observers, this initiative will help the G7 enhance resilience against geopolitical and economic shocks, while promoting cooperation in defense industry and renewable energy. Details regarding the size, timeline, and operational mechanisms of these joint stockpiles have yet to be disclosed.
