Toronto: Australia announced on Saturday that it has signed an agreement with Canada to strengthen bilateral and trade cooperation in the field of critical minerals, during the G7 energy and environment ministers’ meeting in Toronto. Australian Minister for Resources Madeleine King stated that she and her Canadian counterpart, Tim Hodgson, signed a joint declaration of intent to deepen the partnership between the two countries in this sector.
According to Yemen News Agency, King expressed her eagerness to collaborate with Canada to build robust supply chains that support innovation and economic growth. The importance of this agreement is underscored by the fact that G7 member states, excluding Japan, significantly rely on China for various materials, including rare-earth magnets and battery minerals.
Canada had announced its focus on securing critical-mineral supply agreements with G7 partners during its two-day hosting of the meeting. This agreement follows a meeting between Australian Prime Minister Anthony Albanese and his Canadian counterpart Mark Carney in the United Kingdom last September, where discussions included essential minerals, according to government statements.