Japan will propose at the G7 summit a plan for joint stockpiling of critical minerals, led by Japan, to stabilize prices and secure supply chains amid China’s export restrictions.

Japan positions itself as a leader on stockpiling among G7 nations, plans to dispatch JOGMEC experts to participating countries, and will present the proposal with a broader Indo-Pacific perspective in mind.

The proposal urges the G7 to back a coordinated critical minerals stockpile system, aiming for at least 90 days of reserves with emergency releases coordinated through the IEA.

Industry implications suggest demand for minerals used in clean energy tech could more than double by 2030 under current policies, intensifying competition for secure supplies of rare earth magnets, tungsten compounds, and other critical inputs for EVs, AI chips, and wind turbines.

China’s export curbs have widened concerns across sectors, prompting a coalition among semiconductor makers, automakers, renewables developers, and defense contractors to diversify sources and processing capacity.

Mineral coverage will be determined later based on each country’s industrial needs, with discussions on reducing dependence on a single country and potentially cutting reliance on one country for rare earths and permanent magnets to about 60% by 2030, with further reductions planned.

Beyond minerals, the summit will address broader geopolitical and economic issues, including conflicts in the Middle East and Ukraine, as leaders assess resilience measures.

The Evian summit could formalize a stockpile mechanism or broaden commitment to supply chain resilience, following May 2026 G7 trade minister statements on economic coercion via export controls.

The plan follows China’s January 2026 export restrictions on dual-use items including rare earths, underscoring concerns about dependence on Chinese processing for minerals like rare earths and tungsten.

China accounts for about 70% of global critical mineral supply, and G7 nations are seeking to reduce dependence amid export restrictions and coercive measures.

France and Japan advocate different approaches: France favors dialogue with China, while Japan prioritizes supply chain security and national security, including expanded defense ties and NATO cooperation.

China dominates processing and production of rare earths and tungsten, making these materials focal points in supply chain vulnerability for EVs, wind turbines, semiconductors, and defense tech.