G7 leaders signed at the Évian summit a joint declaration to secure critical mineral supply chains, committing to reduce dependence on any single external supplier to below 60 percent by 2030 for rare earths and permanent magnets. The agreement formalizes the Critical Minerals Resilience and Production Alliance, a non-binding cooperation architecture among the seven members and like-minded partners.

According to the [Canadian Prime Minister's communiqué](https://www.pm.gc.ca/en/news/statements/2026/06/17/g7-leaders-declaration-securing-supply-chains-critical-minerals), the bloc will coordinate on processing, industrial capacity, strategic stockpiling, transparency, traceability, and the circular economy, with an initial focus on lithium and nickel. The 60 percent target also carries the ambition of reaching 50 percent dependence on a single external supplier. The [declaration published by the Élysée](https://www.elysee.fr/en/G7evian/2026/06/17/g7-leaders-declaration-on-securing-supply-chains-for-critical-minerals) quantifies the investment momentum at 195 projects announced since early 2026, totaling 64 billion euros, with Australia explicitly named as an external partner in the processing chain.

The alliance is underpinned by the OECD and International Energy Agency's analytical platform and articulates commitments on common transparency standards, mitigation of forced labor risks in extraction, recycling targets, and public holdings in strategic quotas. The communiqué explicitly flags concern over non-market practices and economic coercion in global trade, a reading shared in Brussels and Washington following Chinese restrictions on gallium, germanium, and rare earths during 2025. Members committed to setting concrete recycling targets by mineral before year-end and to pursuing bilateral agreements with resource-rich emerging economies in the Pacific, Latin America, and Sub-Saharan Africa.

The signal for Latin America is unambiguous. Mexico, Chile, Bolivia, Argentina, Peru, and Brazil hold reserves of lithium, copper, and rare earths central to the new industrial mineral landscape. Closing figures before year-end will provide the first operational test for partners that aspire to process locally, not merely export raw materials.

Frequently Asked Questions

What is the G7's target for reducing dependence on a single rare earth supplier by 2030?

The G7 agreed to reduce dependence on any single external supplier to below 60 percent by 2030 for rare earths and permanent magnets, with the ambition of reaching 50 percent, according to the declaration published by the Élysée and the Canadian government on June 17.

How many projects and how much investment back the G7 Critical Minerals Alliance announced in June 2026?

The declaration quantifies the investment momentum at 195 projects announced since early 2026, totaling 64 billion euros in critical mineral value chains, according to the official communiqué from the Élysée.

What commercial practices does the June 17, 2026 G7 critical minerals declaration explicitly mention?

The declaration expresses concern over non-market practices and economic coercion in global mineral trade, according to the Canadian Prime Minister's communiqué published on June 17.

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