Critical Minerals Action Plan Launched at G7 Summit 2025 in Canada
Preamble
Recognizing the strategic importance of #CriticalMinerals, including Rare Earth Elements (#REE) in technology and defense, in the light of certain market disruptions in the context of trade tensions, building upon the Five-Point Plan for Critical Minerals Security initiated during Japan’s G7 Presidency in 2023 and advanced in Italy in 2024, the G7 is launching the Critical Minerals Action Plan (CMAP) following the successful holding of the 2025 Summit (#G7Summit2025) which took place in Canada from 15 to 17 June 2025.
While upholding the principles of diversification, sustainability, transparency, the G7 agreed to establish a resilient #CriticalMinerals supply sources. #CMAP serves to synergize efforts by G7 and like-minded allies in order to respond to disturbances through a set of common measures.
Standards-Based Market
The price of Critical Minerals should reflect the real costs of responsible extraction and processing while respecting labor standards, environmental protection and anti-corruption practices. The market will serve to stabilize supply and pricing by protecting from any deliberate manipulation. #G7 will task relevant ministries to draft a roadmap with milestones for the Standards-Based Market for critical minerals by the end of 2025.
Scaling Up Investment and Developing Economic Corridors
In light of the current geopolitical tensions, the G7 recognizes the urgency for scaling up investments to secure global supply chains (#GSC) of Critical Minerals. The G7 will partner with emerging and developing countries to develop #EconomicCorridors, such as the #LobitoCorridor and #LuzonCorridor, to facilitate access to Critical Minerals. G7 will foster the improvement of the investment climate through regulatory reforms and capacity building. including via the G20 Compact with Africa. The G7 will favor an approach that supports local socio-economic development while building upon community trust and reducing investment risks.
Leveraging DFI, MDB and Private Sector
The G7 will direct its export credit agencies and Development Finance Institutions (DFI) to collaborate and coordinate on joint financing of critical minerals projects. Furthermore, the G7 will engage with Multilateral Development Banks (MDB) and the private sector to channel more capital into this critical sector.
In that regard, the G7 will strengthen with the World Bank’s Resilient and Inclusive Supply Chain Enhancement (RISE) Partnership. Interested G7 members will also support the Minerals Security Partnership (MSP) and its #MSP Forum as well as the Intergovernmental Forum on Mining, Minerals, Metals, and Sustainable Development.
Promoting Cooperation, Innovation, and Recycling
G7 will intensify cooperation to fill innovation gaps in R&D on Critical Minerals. Advances in exploration, processing, manufacturing, and recycling will be showcased and partnerships will be encouraged. As part of the wider #CircularEconomy initiative, the G7 will legislate and apply other instruments to foster the recuperation of #CriticalMinerals and #RareEarths from discarded materials.
Way Forward
G7 welcomes Australia, India and the Republic of Korea to participate in the Plan as part of an expanded G7+ effort. To move the Plan forward, the G7 will convene a targeted Conference on Critical Minerals in Chicago in September 2025.