India, Australia Get Invited As G7 Moves To Break China’s Grip On Critical Minerals
India and Australia are brought into a key G7 discussion in Washington as advanced economies coordinate moves to strengthen critical mineral supply chains and cut reliance on China for resources central to economic and security interests. Image courtesy: RNA
In a clear signal that the West is accelerating efforts to loosen China’s stranglehold over critical minerals, US Treasury Secretary Scott Bessent has convened a special meeting of finance ministers from the Group of Seven (G7) economies in Washington on Monday (January 12, 2026), with India, Australia and several other key mineral-rich and strategic partners invited to join the talks.
What will the G7 meet focus on regarding critical minerals?
The meeting will focus squarely on securing supply chains for critical minerals—resources essential for defence systems, semiconductors, electric vehicles, renewable energy technologies and advanced manufacturing, at a time when Beijing’s export curbs are heightening global economic and security anxieties.
India has been invited to the discussions, Bessent told Reuters, though he said it was not yet clear whether New Delhi had accepted the invitation.
What has Bessent been pushing on critical minerals diplomacy?
Bessent revealed that he has been pushing for a standalone ministerial discussion on critical minerals since the G7 leaders’ summit last summer, underlining the growing urgency of the issue.
Finance ministers from the bloc had already held a virtual meeting on the subject in December, but Monday’s in-person talks mark a step-up in diplomatic coordination.
How is G7 dependent on China for critical minerals?
The G7, comprising the United States, Britain, Japan, France, Germany, Italy, Canada and the European Union, remains heavily dependent on China for rare earths and other critical inputs.
Last June, the grouping agreed on an action plan aimed at strengthening supply chain resilience, diversifying sources and boosting domestic and allied production as part of broader economic security efforts.
Why is Australia joining the meet critical?
Australia’s participation is particularly significant. In October, Canberra signed a landmark agreement with Washington to counter China’s dominance in critical minerals, unveiling an $8.5 billion project pipeline and leveraging Australia’s proposed strategic reserve.
The reserve is expected to supply vulnerable materials such as rare earths and lithium, positioning Australia as a cornerstone of Western mineral security. Since then, Canberra has said it has received strong interest from Europe, Japan, South Korea and Singapore.
How does China pose the biggest challenge on critical minerals?
China’s overwhelming dominance remains the central challenge. According to the International Energy Agency, Beijing refines between 47% and 87% of global supplies of key minerals including copper, lithium, cobalt, graphite and rare earths. This concentration has given China enormous leverage over industries critical to both economic growth and national security.
Western governments have intensified efforts in recent years to reduce their reliance on China, particularly after Beijing imposed strict export controls on rare earths and related technologies.
Why has the US shown this urgency on critical minerals?
The urgency has sharpened further after reports emerged that China recently began restricting rare earth and magnet exports to Japanese companies, while also banning shipments of certain dual-use items to Japan’s military.
Despite rising tensions, Bessent said China continues to meet its commitments to purchase US soybeans and supply critical minerals to American firms.
Still, the meeting on January 12 underscores a growing consensus among advanced economies: securing critical minerals is no longer just an industrial policy issue, but a core pillar of global economic and strategic diplomacy.
