Japan PM Takaichi Proposes G7 Joint Reserves for Key Minerals

Evian, France, June 15 (Jiji Press)--Japanese Prime Minister Sanae Takaichi proposed Monday that the Group of Seven major industrialized countries jointly stockpile critical minerals including rare earths.

The "Joint Stockpiling Cooperation Initiative" proposed by the Japanese leader at a working dinner on the first day of the three-day G7 summit in Evian, eastern France, is aimed at countering export controls by China, which has an overwhelming share of the global market for critical minerals.

Through the initiative, Japan, which already has its own stockpiling system, plans to help other G7 members establish such systems in order to promote mutual cooperation.

According to Japanese government sources, coordination is under way for including the initiative in an outcome document at the annual summit.

The G7 groups Britain, Canada, France, Germany, Italy, Japan and the United States plus the European Union.

[Copyright The Jiji Press, Ltd.]