G7 launches critical minerals alliance to reduce dependence on highly concentrated supply chains and build alternative mining, processing, refining, and stockpiling capacity for key minerals used in defense, EVs, clean energy, and advanced technology.

G7 leaders pledge to cap single-country rare earth imports below 60% by 2030, targeting China's 70% production dominance with a new critical minerals

The group of major developed economies said at least 40 per cent of the supply for high-tech magnets should come from sources outside Beijing’s control by 2030.

"China's efforts to standardise and improve its export control system are in line with international practices," foreign ministry spokesperson Lin Jian said at a regular briefing.…