Australia and Canada sign agreement to deepen critical minerals collaboration
Australia and Canada have signed an agreement to deepen their bilateral partnership on critical minerals, QNA reports.
Australian Minister for Resources Madeleine King and Canadian Minister for Resources and Energy Tim Hodgson signed the Joint Declaration of Intent on Critical Minerals Collaboration on the sidelines of the G7 Energy and Environment Ministers' Meeting in Toronto.
In a statement, the Australian Minister for Resources stated that the agreement will promote and strengthen cooperation and trade in critical minerals value chains.
King said, they look forward to working with Canada to build resilient supply chains that support innovation and economic growth.
Most G7 member states, except Japan, rely heavily or entirely on China for critical materials, including rare-earth magnets and battery metals.
Earlier this week, Canada announced its plan to collaborate with G7 partners to secure agreements for the supply of these essential minerals during the two-day meeting.
As reported earlier, the U.S. and Japan forge a new framework to secure a supply of critical minerals.
