Story perspectives

G7 Sets 60% Supplier Cap, Unveils $12B Mineral Plan

6/18/2026

Summary

Story summary

The G7 agreed to launch a coordination platform with the International Energy Agency to diversify critical-minerals.
President Donald Trump and other leaders pledged a roadmap, set a target to cut any single supplier’s share below 60 % by 2030 and to reach 50 % soon, and announced a $12 billion U.S. Project Vault and an EU rare-earth stockpile.
European allies criticized the U.S. DARPA AI price-support plan and called for market-based pricing indexes.

History

Historical Context

In 2010, China abruptly limited rare-earth exports, prompting the United States, Japan and the European Union to launch a strategic minerals alliance. The move cut China's share of global rare-earth supply to roughly 80 % and spurred a $1.5 billion U.S. Department of Defense research fund. Similarly, the 2024 G7 agreement with the International Energy Agency seeks to cap any supplier’s share below 60 % by 2030, mirroring push for diversified sources. That precedent shows coordinated stockpiles and funding can reshape supply chains, encouraging the new $12 billion Project Vault and EU rare-earth reserves to reduce dependence.

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Story summary

The G7 agreed to launch a coordination platform with the International Energy Agency to diversify critical-minerals.
President Donald Trump and other leaders pledged a roadmap, set a target to cut any single supplier’s share below 60 % by 2030 and to reach 50 % soon, and announced a $12 billion U.S. Project Vault and an EU rare-earth stockpile.
European allies criticized the U.S. DARPA AI price-support plan and called for market-based pricing indexes.

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