The Group of Seven countries are in talks to create a permanent secretariat to ensure initiatives to increase critical mineral supplies survive beyond the bloc’s rotating presidencies, five sources familiar with the discussions said.
Developed countries around the world are seeking to cut their reliance on China, which dominates production of the minerals needed for defence, the energy transition, and manufacturing.
Key Points of Discussion
| Aspect | Details |
|---|---|
| Proposal | Permanent secretariat for critical minerals initiatives |
| Purpose | Ensure continuity beyond rotating G7 presidencies |
| Potential Hosts | International Energy Agency (IEA) or OECD (both Paris-based) |
| Major Concern | Reducing reliance on China for lithium, cobalt, rare earths |
The United States and the European Union last month agreed to deepen their coordination on critical minerals, such as lithium, cobalt and rare earths.
Differences Among Members
| Point of Contention | Position |
|---|---|
| Single Shared Stockpile | Europe rejected the idea |
| National Reserves | Each country should control its own reserves |
| US Leadership | European governments do not want the US to lead the project |
| Concern | Access to critical minerals could be restricted in a crisis |
Two of the sources familiar with the discussions said Europe had rejected the idea of a single shared stockpile in favour of each country controlling its own reserves.
European governments also do not want the US to lead the project because they are worried access to critical minerals could be restricted in a crisis, the sources said.
European Initiatives
The EU since the start of this year has been working on its own pilot stockpile project, spearheaded by Italy, France, and Germany.
Timeline and Next Steps
| Event | Details |
|---|---|
| G7 Online Meeting | Thursday (to discuss breaking China’s stranglehold) |
| G7 Leaders’ Summit | Mid-June 2026 (Evian, France) |
| Secretariat Establishment | Unclear timeline |
| IEA Workshop | Scheduled for Tuesday (Brussels) on stockpiling |
France, which holds the G7’s rotating presidency, called an online G7 meeting for Thursday to discuss how to break China’s stranglehold on critical materials. The meeting is intended to prepare for a mid-June summit of the G7 leaders in the French town of Evian.
IEA’s Role
The IEA is already working on plans to align stockpiling and production of critical minerals. A workshop in Brussels on the IEA’s plans was scheduled for Tuesday.
Companies expected to attend the workshop include:
- General Motors
- Glencore
- Leonardo
- Umicore
Governments registered to attend included the United States, Germany, France, Canada, Italy, and Spain, as well as the European Commission.
Official Responses
- France’s finance ministry: Declined to comment
- IEA: Confirmed the workshop; spokesperson said the meeting aimed to examine technical aspects and understand “industry perspectives for designing effective stockpiling systems”
- OECD: Did not immediately respond to a request for comment
