Australia and Canada Forge Critical Minerals Partnership

Australia and Canada signed new agreements on critical minerals, with Australia joining the G7 minerals alliance. This initiative aims to reduce dependency on China, which dominates the production of crucial minerals. The countries aim to bolster supply chains and deepen cooperation in defense, trade, and AI sectors.

Australia and Canada have signed a series of landmark agreements focused on critical minerals, Canadian Prime Minister Mark Carney announced. The agreements, including Australia's entry into the G7 minerals alliance, are part of a broader strategy by Western nations to diversify supply chains away from Chinese dependency.

China currently dominates the production and processing of essential minerals, which are vital for semiconductors and defense. Carney emphasized the importance of the deal during his address to Canberra's parliament, marking the end of his three-day visit to Australia.

Both nations contribute significantly in mining, producing around a third of the global lithium and uranium supply, and more than 40% of iron ore globally. With a focus on areas like defense, maritime security, and artificial intelligence, the agreement promises a strengthened partnership between these middle powers.

(With inputs from agencies.)