GreenergyDaily

Oct. 30, 2025

The Group of Seven nations are set to announce a critical minerals production alliance that would include supply agreements in a bid to counter China's dominance in the sector.

The group of wealthy countries — the US, Canada, UK, Germany, France, Italy and Japan — plan to unveil the pact at the conclusion of a meeting of their energy ministers in Toronto on Friday, a senior government official said.

The official said it aims to address what the G-7 sees as China's manipulation of the market — at times flooding it with excess supply to make western countries' projects uneconomical, and at other times imposing export controls.

The alliance will involve so-called offtake agreements that commit a buyer to a certain percentage stake of a mine's output at a fixed price. It will also feature price floors and stockpiling deals, said the official.

The pact will encompass a range of critical minerals and firms in G-7 nations, but Canada expects it to benefit its economy as it has vast deposits of the minerals, the official said.

China paused plans for a dramatic expansion of its rare-earths export controls, offering relief to global buyers after a tumultuous year and handing major economies more time to counter Beijing's grip on the industry.