Australia Canada Sign Deal to Strengthen Critical Minerals Cooperation Amid G7 Talks

Australia and Canada have formalized a partnership to deepen collaboration and trade in critical minerals by signing the Joint Declaration of Intent on Critical Minerals Collaboration during the G7 Energy and Environment Ministers' Meeting in Toronto. This agreement aims to build resilient supply chains that support innovation and economic growth while reducing heavy reliance on China for critical materials such as rare earth magnets and battery metals. Both nations possess significant reserves of critical minerals and produce them to high standards, and the collaboration will focus on advancing mutually beneficial projects and ensuring standards-based markets address shared challenges. The move is part of broader strategic efforts by Australia and Canada, including prior agreements with other partners like the U.S., to secure critical mineral supplies vital for industries ranging from defense to clean energy. Australian Resources Minister Madeleine King highlighted the importance of this cooperation for future stability and prosperity, reflecting ongoing geopolitical concerns over supply chain vulnerabilities. This partnership aligns with Canada’s objective to strengthen mineral supply deals with G7 countries to ensure supply chain resilience.