Beyond US-China rivalry: triangular geopolitics of critical minerals is reshaping global trade

THE geopolitics of critical minerals entered a new phase recently when the Group of Seven (G7) announced plans to reduce dependence on any single supplier of rare earth elements and permanent magnets.

Under the initiative, G7 members aim to reduce reliance on a single source to below 60 per cent by 2030, with a longer-term goal of reaching 50 per cent.

The move reflects growing concerns about supply chain resilience and economic security. Yet, it also highlights a broader reality: The competition over critical minerals can no longer be understood simply as a contest between the US and China.