Overview
- Treasury Secretary Scott Bessent will convene finance ministers in Washington on Jan. 12 to coordinate policy on critical minerals.
- Australia and several other partners were invited to join the G7 meeting, with India’s participation not yet confirmed.
- Recent reports say China restricted shipments of rare earths, powerful magnets, and certain dual‑use items to Japanese entities.
- The International Energy Agency estimates China refines 47% to 87% of key minerals used in defense, semiconductors, batteries, and clean energy.
- Australia’s October deal with the U.S. outlines an $8.5 billion project pipeline and a proposed strategic reserve, while Bessent says China is still supplying minerals to U.S. firms and purchasing U.S. soybeans.