At a meeting in the Canadian city of Toronto on Friday, G7 energy ministers agreed to establish a critical minerals production alliance.
The plans include more than two dozen new investments, partnerships and measures to accelerate and unlock C$6.4 billion (US$4.57 billion) in critical mineral projects, according to the government department Natural Resources Canada.
The group – which consists of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States – also agreed to channel up to C$20.2 million into international collaboration in research and development of the commodities.
These moves “send the world a very clear message”, Canadian Energy Minister Tim Hodgson said, according to Agence France-Presse.
“We are serious about reducing market concentration and dependencies,” Hodgson said, referring to China.
