Canadian Prime Minister Mark Carney, during a visit to Canberra, announced the signing of strategic agreements with Australia, which provide for its official entry into the G7 Critical Minerals Alliance. This is reported by Reuters, writes UNN.
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The partnership aims to create a reliable supply chain for lithium, uranium, and iron ore, bypassing China, which currently dominates the market for processing raw materials for the defense industry and semiconductors. The combined efforts of the two largest resource exporters will enable Western democracies to ensure energy security and accelerate the development of high-tech industries through joint reserve management.
Formation of the world's largest democratic alliance of mineral reserves
The G7 alliance, initiated by Canada in 2025, now includes countries that collectively control more than a third of global lithium production and about 40% of iron ore. Mark Carney emphasized that this cooperation is a response to the destruction of the global security architecture and the challenges faced by "middle powers" in conditions of geopolitical instability.
Earlier today, we signed a number of new critical minerals agreements, including on the G7 Critical Minerals Alliance – the largest aggregation of trusted democratic mineral reserves in the world.