Canada to work with G7 partners to secure critical mineral supply deals, minister says

Canada will focus on securing supplies of critical minerals when it hosts its Group of Seven partners this week at a meeting of energy and environment ministers in Toronto, Natural Resources Minister Tim Hodgson said in an interview on Tuesday.

G7 countries, except Japan, are heavily or exclusively reliant on China for a range of materials from rare earth magnets to battery metals.

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"We will see this week many examples of us moving beyond talks to firm commitments to fund several types of tools (to secure critical minerals)," Hodgson said. The G7 meeting will be held from October 30 to October 31.

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He said Canada intended to be a leader in securing supply chains for all of its key allies, to reduce reliance on China. Canada produces several critical metals such as nickel, copper and cobalt.

Some of the announcements expected this week from the G7 meeting will be on stockpiling of critical minerals and investments in new mining and processing operations, Hodgson said.

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