G7 Leaders Unite to Safeguard Critical Minerals Supply

In a significant move to strengthen economic resilience, the Group of Seven (G7) leaders have provisionally agreed on a strategy aimed at safeguarding the supply of critical minerals. As per a draft statement obtained by Reuters, the accord attempts to bolster economies through responsible extraction, processing, and trade.

The draft, yet to receive approval from U.S. President Donald Trump, highlights the urgency of action following China's April decision to pause exports of various minerals essential for industries such as automotive, electronics, and defense. This disruption underscored the strategic leverage held by Beijing over global supply chains.

Addressing potential threats, the G7 leaders urged coordinated efforts to mitigate risks to critical mineral supply chains. This includes preemptively managing shortages, counteracting market disruptions, and diversifying sourcing and production methods to ensure both economic and national security.

(With inputs from agencies.)