G7 aims to cap China's rare earth supply at 60%

Key facts

• The G7 group of nations is setting a target for China's share of global rare earth supply.
• The goal is to reduce China's contribution to no more than 60% of the total supply.
• This initiative is intended to diversify the sources of critical minerals.

The G7 nations have set a strategic objective to curb China's dominance in the global supply of rare earth minerals. The group aims to ensure that China accounts for no more than 60% of the world's rare earth supply. This initiative is driven by a desire to diversify the sources of these critical minerals, reducing reliance on a single country.