Canada announced on Friday the first round of projects under a G7 critical minerals production alliance envisioned as a counterweight to China’s dominance in the sector.
The 25 initiatives include purchase agreements for a Quebec graphite mine and investments to scale up a rare earth elements refinery in Ontario.
Canada’s energy and natural resources minister said the alliance’s first initiatives should be seen as a clear signal the group is serious about reducing market concentrations, safeguarding national security and driving investment.
“As we move swiftly to reduce dependence on concentrated supply chains, our collective commitment is clear. Every delay is a concession of economic and national security interests. We will no longer accept that,” said Minister Tim Hodgson.
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