German media: G7 Energy Ministers Hold Meeting to Discuss Coping with China's Dominance in Rare Earths

G7 Energy Ministers held a meeting in Canada on Thursday, with the primary agenda being to curb China's dominance in critical minerals. From photovoltaic cells to precision-guided missiles, critical minerals are involved in all of them.

At the G7 summit in Canada in June, the leaders of the seven countries launched a "Critical Minerals Action Plan," calling for diversification of supply chains to promote "common national and economic security interests."

The two-day G7 Energy Ministers' meeting in Toronto will further advance this plan.

Several countries have significant relevant minerals, but China's processing and refining capabilities remain dominant globally, especially in rare earths.

Canada's Energy Minister stated that the Toronto meeting should announce measures to address manipulative practices in the global market for critical minerals.

Gregory Frame, a spokesperson for the Canadian Energy Department, told AFP that this G7 meeting is at a crucial moment.

He said that Canada will "announce the first results achieved by the new alliance to ensure that key minerals for future industries are mined, refined, and produced by countries that share our values."

Hunter from the Washington Critical Minerals Strategy Center pointed out that G7 - UK, Canada, France, Germany, Italy, Japan, and the US each have different energy policies. In particular, the Trump administration is seen as less focused on the transition to clean energy.

In addition, the trade protectionist policies of Trump may also weaken the unity of the G7 in the field of critical minerals.

Hunter, Executive Director of the Washington Critical Minerals Strategy Center, believes that this meeting in Toronto should take concrete actions to achieve "traceability" from mining to refining of critical minerals to ensure suppliers comply with global market rules.

China's Foreign Ministry spokesperson responded that China's export controls conform to international practices, "the purpose is to better maintain world peace and regional stability, and fulfill international obligations such as non-proliferation." Spokesperson Guo Jiakun also urged the Group of Seven to "stop using 'small circle' rules to disrupt the international trade and economic order."

Source: DW

Original: www.toutiao.com/article/1847427784186880/

Statement: This article represents the views of the author.