The Group of 20 is calling for stronger safeguards for critical minerals against unilateral trade actions, in a proposed draft document obtained by Bloomberg News. The measure aims to strengthen the value chain for essential minerals, ensuring resilience against geopolitical tensions, trade disputes, pandemics, and natural disasters.
The draft dedicates a section to critical minerals, including a voluntary blueprint designed to make these resources a driver of prosperity and sustainable development. Observers note the language appears to be a veiled reference to China’s sweeping export restrictions imposed during the U.S.-China trade war. China, which holds nearly half of the world’s rare earth reserves, implemented a licensing system earlier this year that throttled global access to metals essential for manufacturing everything from missiles to mobile phones.
“We seek to ensure that the value chain of critical minerals can better withstand disruptions whether due to geopolitical tensions, unilateral trade measures inconsistent with WTO rules, pandemics, or natural disasters,” the draft states, according to Bloomberg. While last year’s G20 summit in Brazil mentioned critical minerals only briefly, this year’s draft devotes a four-point section to the issue, reflecting heightened concerns over supply vulnerabilities.
The draft also comes amid the absence of Chinese President Xi Jinping, who has sent Premier Li Qiang to represent China at the summit. Although the draft reflects global unease over China’s rare earth dominance, the language could still be modified as discussions continue through the weekend. The curbs targeted minerals with dual-use applications, which some nations argue may not fully comply with World Trade Organization rules.
The focus on critical minerals coincides with broader geopolitical concerns at the summit, including Ukraine and conflicts where leaders emphasized respecting UN principles such as territorial integrity and condemning attacks on civilians and infrastructure. Bloomberg notes that South Africa, the summit host, proceeded with drafting the declaration despite U.S. objections. Washington formally requested that South Africa refrain from issuing a joint statement, warning that it would not reflect American views.
The proposed G20 measures highlight growing global attention on supply chain security for critical minerals, a sector increasingly intertwined with economic resilience and national security amid rising geopolitical tensions.
