Canada Invests $1.4B in 25 Critical Mineral Projects Under G7 Pact

Canada announced its first 25 investments under a G7 critical minerals production alliance aimed at reducing dependency on China and securing supply chains for defense and clean energy needs. These investments include purchase agreements for a Quebec graphite mine, scaling up a rare earth elements refinery in Ontario, and supporting a Norwegian company's synthetic graphite plant in St. Thomas, Ontario, with potential financing up to $500 million. Energy Minister Tim Hodgson highlighted steps to begin stockpiling critical minerals essential to national security, emphasizing the G7's commitment to reducing market concentration and driving investment. The Canadian government, led by Prime Minister Mark Carney, revealed a total of C$1.4 billion ($1 billion) in investments and partnerships under this initiative. Canada aims to position itself as a reliable partner for G7 allies amid trade tensions and China's export restrictions by coordinating funding tools, offtake agreements, and stockpiling efforts. These announcements were made during the G7 energy and environment ministers' meeting in Toronto, underscoring a strategic push for mineral security among allied nations.