Canada is heading up talks in Toronto to establish a G7 critical mineral production alliance in what's widely seen as a bid to check China's reign over a supply chain key to everything from wind turbines to fighter jets.

Federal energy minister Tim Hodgson says the critical minerals pact will look at countering market manipulation and price volatility in the sector.

Pressure has been mounting on countries to diversify their supply of critical minerals as China has used its dominant position to tighten exports on rare earth minerals often used in magnets for electric vehicles, cellphones, advanced radar and a range of other products.

Just hours before the G7 ministerial talks in Toronto, China announced it had agreed to pause those export restrictions for one year as part of a deal with

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