The leaders of the Group of Seven (G7) countries have unveiled a new critical minerals action plan aimed at securing the supply of materials for clean energy, digital technologies and industrial production, while countering non-market influences that threaten global access to these resources.

The plan, announced at the conclusion  the G7 summit held in Kananaskis, Canada, commits member nations to developing resilient and diversified supply chains, increasing responsible investment, and supporting innovation in mineral processing, recycling, and substitution.

“We, the leaders of the G7, recognise that critical minerals are the building blocks of digital and energy secure economies of the future,” the joint statement reads. “We remain committed to transparency, diversification, security, sustainable mining practices, trustworthiness and reliability as essential principles for resilient critical minerals supply chains.”

The plan builds on the 2023 five-point plan for critical minerals security initiated under Japan’s presidency and expanded by Italy in 2024. It reflects growing concern among the G7 nations – Canada, France, Germany, Italy, Japan, the UK and the US – about policies and practices that distort supply chains, particularly in rare earths and other essential inputs used in clean technologies and defence.

“Non-market policies and practices in the critical minerals sector threaten our ability to acquire many critical minerals, including the rare-earth elements needed for magnets, that are vital for industrial production,” the leaders stated. “We will work together and with partners beyond the G7 to swiftly protect our economic and national security.”

The plan outlines several areas of action, including the development of standards-based markets, mobilisation of capital, partnerships with mineral-rich countries, and increased innovation. The G7 will also develop a roadmap to promote minimum thresholds for responsible mining, incorporating environmental, social, and governance criteria such as traceability, labour standards, local consultation and anti-corruption measures.

The group calls for "immediate and scaled investment" to secure future supply chains and ensure promising mining and processing projects overcome barriers such as delays in permitting and approvals processes, market manipulation, and price volatility. The G7 urges its export credit agencies and development finance institutions to coordinate support for critical minerals projects. It also welcomes increased involvement by multilateral development banks and private lenders to fund standards-aligned mining ventures.

In particular, the G7 Finance Ministers have committed to strengthening the World Bank-led Resilient and Inclusive Supply Chain Enhancement partnership. The group also reiterated support for other platforms including the Minerals Security Partnership (MSP) and its MSP Forum, and the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development.

Canadian Prime Minister and G7 chairperson Mark Carney said the group had discussed the need for greater economic and financial stability,  technological innovation, and an open and predictable trading regime to drive investment and growth.

“They [G7 leaders] acknowledged that both [energy security and the digital transition] are underpinned by secure and responsible critical mineral supply chains and that more collaboration is required, within and beyond the G7."

Carney added that the new Canada-led Critical Minerals Production Alliance had been launched to support the goals of the G7 action plan and provide “guaranteed supply for advanced manufacturing and defence” through partnerships with trusted international allies.

The G7 action plan was welcomed by Australia, India and Korea – all strategic mineral producers and key partners in Western supply chain strategies.

To support technology advancement, the G7 committed to intensifying joint efforts in processing, recycling, substitution and circular economy models. A conference on critical materials and minerals, to be hosted by the US in Chicago in September, will further drive these innovation efforts.

The G7 also pledged to support mineral-rich emerging and developing countries by building local processing capacity, supporting artisanal mining improvements, empowering entrepreneurs, and addressing investment barriers – all aimed at creating more resilient and diversified global supply chains.