G7 nations seek joint projects and stockpiling to reduce reliance on China for key metals used in tech and defense.
Canada and Japan are exploring joint critical mineral projects and stockpiling agreements worth over C$1 billion to counter China’s dominance in the sector. The initiative aims to secure supply chains for metals essential to technology and defense industries amid rising geopolitical tensions.
The discussions follow a Canadian delegation visit to Japan, where companies from both countries signed preliminary deals. China currently controls a significant share of global critical mineral production, prompting G7 economies to diversify sources.
No immediate market reaction was reported, but analysts expect long-term supply chain shifts if the agreements materialize.