Seven of the world’s largest economies just drew a line in the sand on critical minerals. Meeting in Évian-les-Bains, France, G7 leaders announced a new alliance designed to wean their supply chains off China, which currently controls over 90% of the processing for key minerals like rare earths and permanent magnets.

The target: reduce reliance on any single non-G7 supplier to below 60% by 2030, with an aspirational goal of pushing that number down to 50% “as soon as possible.”

What the alliance actually does

The new framework builds on the Critical Minerals Production Alliance launched in June 2025 during Canada’s G7 presidency. That earlier effort has already mobilized $6.4 billion in investments and supported 26 projects and partnerships across critical mineral supply chains, including graphite and rare earth elements.

The Évian agreement goes further in two key ways. First, it introduces enhanced coordination around stockpiling policies. Second, it tasks the International Energy Agency with a more prominent role in monitoring and securing mineral supply chains.

China has recently imposed export controls on rare earths and permanent magnets, a move that sent a clear signal to Western manufacturers. When one country processes more than 90% of certain critical minerals, even a modest restriction creates outsized disruption.

Why crypto and tech investors should care

When China restricted gallium and germanium exports in 2023, semiconductor manufacturers scrambled. A similar move on rare earths or permanent magnets would hit even harder.

The $6.4 billion already deployed through the Critical Minerals Production Alliance is a start, but building a mine takes years, building a refinery takes years, and building the technical expertise to process rare earths at competitive quality and cost takes even longer.

The bigger picture for markets

The alliance also aligns with ESG-driven investment trends. By promoting diversified and sustainably sourced minerals, the G7 is creating a framework that could attract capital from funds with environmental mandates.

The 26 projects already supported through the existing alliance span multiple continents and mineral categories. Investors watching this space should track not just the headline investment figures, but the actual processing capacity coming online outside China.