G7 and Allies, Including India, Discuss Securing Critical Mineral Supply Chains

Finance ministers from the G7 and allied countries, including India, met in Washington to address vulnerabilities in critical mineral supply chains dominated by China. Hosted by US Treasury Secretary Scott Bessent, the discussions focused on securing and diversifying sources of rare earth elements through technology sharing, funding, recycling, and policy measures. Participants emphasized prudent derisking over decoupling from China, aiming to enhance resilience amid growing global manufacturing demands, particularly in electronics and defense sectors.