Rare earth resources Photo: VCG

　　Group of Seven (G7) members Japan, France and Canada are working on alternatives to a US-led trade bloc to secure critical minerals and reduce reliance on China, according to three senior officials from these countries, Reuters reported on Saturday. The move came at a striking moment, as a recent report noted that US is seeking to build a bloc with their allies around China through a critical minerals alliance, but the three G7 "key players" are instead charting their own course.

　　Recently, blocs launched under the banner of reducing reliance on China"s rare earths have been emerging one after another, often with overlapping memberships and similar objectives. A Chinese expert noted that the proliferation of such "Western blocs" reflects coordination failure rather than genuine supply chain resilience.

　　Some ‌options mentioned by Japan, France and Canada this time include import quotas on certain rare earths, subsidies for mining companies to diversify the supply chain on critical minerals.

　　Prior to the "alternatives" mentioned by Japan, France, and Canada in the report, Canada had also recently led a separate initiative to bring together mineral-consuming countries in a "critical minerals buying group" — opting for collective purchasing power rather than relying solely on a price floor, reported Reuters on March 3.

　　This "buyers" club" aimed at the same purpose, to "develop a reliable supply chain of critical minerals outside of China and break that country"s monopoly on these metals," according to Reuters. This "buyers" club" is also in the options of Japan, France, and Canada"s alternatives this time.