G7 Finance Ministers to Meet in Washington, Focusing on Rare Earth Supply Issues
Reuters cited three sources on Tuesday, January 6, stating that finance ministers from G7 member states will hold a meeting in Washington on January 12, focusing on rare earth supply issues.
According to Reuters, an insider revealed that one of the topics on the agenda for the G7 finance ministers' meeting in Washington will involve setting a price floor for rare earths, as well as discussing other critical mineral-related issues.
Except for Japan, G7 countries are highly dependent on, or even completely reliant on China for various key raw materials, covering areas such as rare earth magnets and battery metals. In June last year, the G7 reached an action plan to secure the supply chain of critical minerals and boost the economies of member states.
To promote investment in critical minerals outside of China and enhance their economic viability, G7 officials had begun discussing the possibility of setting a price floor last year. The United States was the first to introduce a minimum price mechanism in domestic rare earth supply contracts last year.
Source: rfi
Original: toutiao.com/article/1853630930516105/
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