The Group of Seven countries have agreed that no single country should supply more than 60% of their imports of rare earths by 2030 in an effort to reduce their reliance on China, according to people familiar with the discussions…At their summit in Evian, France, this week, G7 leaders discussed plans to introduce binding quotas for companies in some industrial sectors, in what appeared to be a nod to the need for defense manufacturers in particular to reduce their reliance on China, one of the people said. They also pledged to set up a platform to combine efforts to increase the supply from recycling and new mining projects, said the person, who asked not to be named discussing private conversations…For other critical minerals, leaders pledged to nail down specific targets by the end of the year…One G7 official said the critical minerals plan was one issue the leaders could fully agree on at a meeting dominated by questions surrounding the peace deal between the US and Iran. Another official said that the members were all aligned on the need to diversify their suppliers of critical minerals so that they would be less vulnerable to interruptions…The 2030 deadline is likely to prove an ambitious target, given that many prospective developers are delaying projects in the face of funding constraints, regulatory hurdles, social opposition and technical setbacks. One of the official said it’s unlikely that countries will deliver without setting quotas at least for some industries, like defense…China imposed sweeping export controls on most critical minerals and rare earths last year which threatened to halt manufacturing lines around the world and underlined for officials the leverage Beijing has accrued through its near-monopoly on supplies…China also hit Japan with a wide-ranging ban on products that can be used in either civilian or military equipment following a spat over Taiwan this year…While most critical minerals markets are small and individual projects can deliver a major supply boost to global supplies, vast amounts of capital and technical expertise would be needed to ramp up output in all of the critical-minerals markets that China dominates…A 2025 International Energy Agency report found that China controlled roughly 70% of the market for refining processes for the majority of critical minerals. For some specific substances, China’s dominance is even higher. It produces 85% of processed cobalt and 99% of primary gallium, the report said.  

Prime Minister Carney and Chancellor Merz took stock of shared challenges in the raw materials supply chains of both Canada and Germany. They agreed to cooperate closely on the issue, both bilaterally and in the G7, and stressed the need for industry to diversify raw materials supply chains…Building on the success of this collaboration, Canada and Germany agree to work together to advance critical mineral supply chain resiliency focused on enhancing a partnership on critical minerals stockpiling and leading to capital investments by the end of 2026.

Canadian Prime Minister Mark Carney has offered Italy priority access to Canada’s critical mineral reserves as the two countries expanded cooperation on supply chains, defence and energy during talks at the G7 summit in France…The meeting with Italian Prime Minister Giorgia Meloni in Évian builds on a year of growing bilateral engagement centred on critical minerals…“Italy’s intention to collaborate with Canada to stockpile critical minerals will catalyze further partnerships between our countries in energy and industry,” the Canadian government said in a statement…The agreement highlights Canada’s efforts to position itself as a strategic supplier of minerals essential to battery manufacturing, defence technologies and industrial production as Western allies seek alternatives to concentrated global supply chains. The move also strengthens economic ties between Ottawa and Rome at a time when G7 countries are working to secure access to critical resources and reduce geopolitical vulnerabilities.

China’s tightening regulation of its lithium-ion battery recycling sector is increasing black mass flows and accelerating the release of lower-cost recycled cobalt units, Fastmarkets understands…To alleviate overcapacity in its battery recycling supply chain, China officially implemented a nationwide regulatory framework on April 1, 2026, named the Interim Measures for the Management of Recycling and Comprehensive Utilization of Waste Power Batteries for New Energy Vehicles…The policy will govern how used power batteries from new energy vehicles (NEVs) must be recycled, tracked and safely processed, according to an announcement by the Ministry of Industry and Information Technology (MIIT)…Sources said that some illegal battery shredding facilities have moved to clear black mass inventories in recent weeks — fearing tighter enforcement on their operations — thereby releasing additional material into the spot market…Market sources said more lower-priced recycled sulfate has been offered into the spot market recently, with some irregular recycling facilities looking to move material quickly amid the rule tightening…The availability of these cheaper units has further undermined the price floor for cobalt sulfate, even though cobalt hydroxide supply remains constrained following the cobalt export suspension by the Democratic Republic of Congo, according to market participants…Fastmarkets’ weekly assessment for cobalt sulfate 20.5% Co basis, exw China was 91,000-93,000 yuan per tonne on Wednesday. Fastmarkets’ price assessment only considers datapoints for primary-feedstock material…Market participants said that these informal operators can pay above-market prices for spent batteries and sell black mass below market levels, sources said, because they avoid many safety, environmental and compliance costs borne by licensed recyclers…The new recycling framework, which entered into force on April 1, aims to ensure clear responsibilities for battery producers and car manufacturers for their batteries…Taken together, the measures underscore Beijing’s push to further formalize its battery recycling sector, with major consequences for both black mass and recycled metals salts markets.