Government representatives from the Group of Seven are exploring the creation of a standing secretariat to provide continuity for joint efforts to expand supplies of critical minerals, five sources privy to the discussions said. The sources spoke anonymously because they were not authorised to discuss the matter publicly.
The discussions reflect concern among developed nations about reducing reliance on China, which currently dominates production of minerals such as lithium, cobalt and rare earths that are integral to defence systems, the energy transition and various manufacturing processes. Last month, the United States and the European Union agreed to deepen coordination on these critical minerals.
Two of the sources said European governments oppose the idea of a single, jointly managed stockpile. Instead, they favour each country retaining control of its own reserves. The same two sources also said European officials do not want the United States to be the leading force behind a combined project, citing worries that access to critical minerals could be limited in a crisis if the United States led the initiative.
Separately, the European Union has been advancing its own pilot stockpile project since the start of this year, with Italy, France and Germany taking lead roles in that effort.
Possible location and timing
The five sources indicated that any permanent secretariat could be located within one of two Paris-based international organisations - the International Energy Agency or the Organisation for Economic Co-operation and Development. It remains unclear when a secretariat might be formally established, but the sources said it could play a role in implementing any critical raw materials decisions adopted at the G7 leaders' meeting in June, which could include measures related to stockpiling.
A spokesperson for France's finance ministry declined to comment. France, which currently holds the G7 rotating presidency, convened an online G7 meeting scheduled for Thursday to discuss ways to break what participants describe as China's dominant position on critical materials. That meeting is intended to prepare ministers and officials for the mid-June summit of G7 leaders planned for Evian, Finance Minister Roland Lescure told reporters.
Responses from international organisations
The International Energy Agency declined to comment on the G7 talks, while the OECD did not immediately respond to a request for comment. Two of the sources said the IEA is already developing plans aimed at aligning stockpiling and production of critical minerals.
IEA documents show a workshop on the agency's plans was scheduled to take place in Brussels on Tuesday. The IEA confirmed the meeting and said it was convening a workshop in Brussels with government and industry participants to discuss mineral stockpiling. According to an IEA spokesperson, the meeting was designed to review technical aspects and gather industry perspectives for designing effective stockpiling systems.
As of April 20, governments registered to attend the IEA workshop included the United States, Germany and France as well as Canada, Italy and Spain. The European Commission was also registered to attend. Documents shared with participants indicated that companies expected to take part included General Motors, Glencore, Leonardo and Umicore.
Context and next steps
Negotiations continue on how best to sustain G7 efforts on critical minerals beyond the bloc's rotating presidencies. Key outstanding questions include the governance model for any joint activities, whether stockpiling should be centralised or national, and where a secretariat - if created - should be hosted. Any formal decisions arising from these talks could be considered for implementation following discussions at the G7 leaders' meeting in June.