en.Wedoany.com Reported - According to sources, the Group of Seven (G7) is in talks to establish a permanent secretariat to ensure the continuous advancement of supply security measures for critical minerals even after changes in the rotating presidency. Developed nations are seeking to reduce import dependence on critical minerals such as lithium, cobalt, and rare earths, which are vital for defense, the energy transition, and manufacturing.
The United States and the European Union agreed last week to deepen cooperation on critical minerals, but Europe has rejected a proposal to build a single shared stockpile, favoring instead national control over reserves. Sources said European governments are reluctant to let the U.S. lead the project, fearing restricted access to critical mineral reserves during times of crisis. Since the beginning of the year, Italy, France, and Germany have led EU attempts to build their own reserves.
The secretariat could be housed at the International Energy Agency (IEA) or the Organisation for Economic Co-operation and Development (OECD), both located in Paris. The timeline for its establishment remains unclear, but the move would help implement decisions on critical raw materials made at the G7 leaders' summit in June. A spokesperson for the French Finance Ministry declined to comment. France, which holds the rotating G7 presidency, will convene an online meeting on Thursday to discuss critical mineral dependency. French Finance Minister Roland Lescure said the meeting aims to prepare for the G7 summit scheduled for mid-June in Évian-les-Bains, France.
The IEA declined to comment on the G7 discussions but has already begun developing plans to coordinate the production and stockpiling of critical minerals. The IEA plans to hold a workshop in Brussels on Tuesday. A spokesperson said: "The IEA will host a workshop in Brussels to discuss mineral stockpiling with government and industry participants." The meeting will review technical details and gather industry perspectives on designing an effective stockpile system. As of April 20, governments registered to attend include the United States, Germany, France, Canada, Italy, and Spain, along with the European Commission. On the corporate side, General Motors, Glencore, Leonardo, and Umicore are expected to participate.
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