Joint declaration signed at the sidelines of the G7 Energy and Environment Ministers’ Meeting in Toronto.
Australia and Canada are set to strengthen their collaboration in the critical minerals sector. On Saturday, at the G7 Energy and Environment Ministers’ Meeting in Toronto, Australian Resources Minister Madeleine King and Canada’s Minister for Energy and Natural Resources Tim Hodgson formally signed a Joint Declaration of Intent on Critical Minerals Collaboration. The objectives of the partnership are to foster a deeper partnership in critical minerals, particularly by linking upstream production with midstream technologies to mutually benefit each other’s economies. In addition, the agreement establishes a framework for ministerial-level meetings, special envoys, and formal cooperation plans.
Both nations are major global producers of critical minerals, holding substantial reserves of lithium, rare earth elements, nickel, and other strategic resources. In addition, the declaration emphasizes Australia’s geological advantages and mining expertise, complementing Canada’s advanced processing infrastructure and proximity to major North American markets.
In recent months, both Canada and Australia have intensified their efforts to maximize the benefits of their natural resources by forming international partnerships. Through these collaborations, they aim to position themselves as viable alternatives to industry leader China. For example, Canada signed an agreement with Germany in August, while Australia reached a deal with the United States just last month.
Photo: Alfio Manciagli, alexsl, Aurielaki via Canva, montage rawmaterials.net