G7 Nations Set 60% Cap on Single-Country Rare Earth Supply by 2030 to Reduce China Dependence
By
Michael Nienaber, Andrea Palasciano
Lacks bite. And filling. And a copy-editor at the bakery.
Summary
G7 leaders have agreed to a target that no single country should supply more than 60% of their rare earths and permanent magnet imports by 2030, aiming to reduce dependence on China. The goal is to further limit exposure to 50% as soon as possible after 2030.
Key quotes
· 2 pulledThe 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.
Beyond 2030 they will aim to further reduce their dependencies with a view to limiting exposure to 50% as soon as possible, the statement said.
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