Japan's Prime Minister proposes G7 joint stockpile of critical minerals to counter China

Japanese Prime Minister Sanae Takahashi (다카이치 사나에) is set to propose at the G7 summit in France on June 15 a joint stockpiling system for critical minerals such as rare earth elements. She said the agenda will focus on “energy security and strengthening supply chains for strategic minerals,” aiming to coordinate a response to China’s recent export controls that have cut Japan’s rare‑earth imports by more than 80%.

Japan already operates a national stockpiling programme and plans to support other countries interested in similar schemes. It is also launching investigations for mining key minerals in Greenland, which the U.S. Geological Survey estimates holds the world’s eighth‑largest rare‑earth resources. While the United States and some European members favour a united stance, the summit may reveal differing positions on how to handle China’s growing influence over critical mineral markets.