Australia, Canada sign deal to promote, strengthen critical minerals cooperation

Australia said on Saturday it signed an agreement with Canada to promote and strengthen bilateral cooperation and trade on critical minerals at the Group of Seven meeting of energy and environment ministers in Toronto.

Resources Minister Madeleine King said she and Canadian counterpart Tim Hodgson signed the joint declaration of intent on critical minerals collaboration, aimed at deepening the countries' partnership on critical minerals.

G7 countries, except Japan, are heavily or exclusively reliant on China for a range of materials from rare earth magnets to battery metals. Canada this week said it wanted to focus on working with G7 partners to secure critical mineral supply deals while hosting the two-day meeting.


"I look forward to working with Canada to build resilient supply chains that support innovation and economic growth," King said in a statement.

The agreement comes after Prime Minister Anthony Albanese in September met his Canadian counterpart in the United Kingdom for talks, including on critical minerals, according to government statements.

Australia and the U.S. last month agreed a wide-ranging critical minerals deal aimed at countering China's dominance in the sector.