Canada has announced the first round of 26 new investments, partnerships, and measures as part of a G7 critical minerals alliance to counter China’s current global dominance in the sector.
Energy Minister Tim Hodgson said $6.4 billion in investments in Canadian projects is a significant step forward in creating a resilient G7 supply chain for critical minerals that will be less reliant on China and protect member nations’ national security interests.
The Critical Minerals Production Alliance was put forward by Canada in June of this year to put its Critical Minerals Action Plan into effect. The alliance aims to incentivize public and private investments in the mining and processing of critical minerals, including rare earth elements, among G7 countries and allies….