{"id":2534011,"date":"2026-01-12T19:23:02","date_gmt":"2026-01-13T00:23:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/scott-bessent-hosts-australia-india-and-g7-to-talk-critical-minerals\/"},"modified":"2026-01-12T19:25:37","modified_gmt":"2026-01-13T00:25:37","slug":"scott-bessent-hosts-australia-india-and-g7-to-talk-critical-minerals","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/scott-bessent-hosts-australia-india-and-g7-to-talk-critical-minerals\/","title":{"rendered":"Scott Bessent hosts Australia, India, and G7 to talk critical minerals"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fscott-bessent-hosts-australia-india-and-g7-to-talk-critical-minerals%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2534011&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Treasury Secretary Scott Bessent convened officials from the G7 plus Australia and India in Washington, D.C., to discuss bolstering supply chains for critical minerals amid concerns about China&#8217;s dominance of the sector. He urged &#8220;prudent derisking&#8221; rather than decoupling and called for increased supply-chain resiliency and rapid, coordinated action. The meeting followed a G7 action plan to diversify and attract investment in critical-minerals projects and came after China imposed recent export restrictions on rare earths and magnets affecting Japan.Japanese Finance Minister Satsuki Katayama warned that monopolistic, non-market control of these materials threatens economic and security stability. The U.S. is pursuing domestic expansion and diversification through partnerships with countries like australia, Malaysia, Thailand, and Cambodia, policy and permitting reforms, and direct stakes in companies such as Lithium Americas and MP Materials to build out a homegrown supply and processing capacity.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Treasury Secretary Bessent hosts Australia, India, and G7 to talk critical minerals<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2446006\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>The United States brought together the <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/g7\/\">Group of Seven<\/a> countries, as well as <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/Australia\/\">Australia<\/a> and <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/India\/\">India<\/a>, in Washington, D.C., to discuss critical minerals Monday amid China&rsquo;s continued chokehold on the sector.&nbsp;<\/p>\n<p>In a statement, the Treasury Department said that Secretary Scott Bessent &ldquo;expressed his optimism that nations will pursue prudent derisking over decoupling, and that they understand well the need to remedy current deficiencies in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/president-joe-biden-holds-private-dinner-with-australian-pm-anthony-albanese-at-white-house\/\" title=\"President Biden hosts private dinner with ...n PM Albanese at White House.\">critical minerals supply chains<\/a>.&rdquo;&nbsp;<\/p>\n<div class=\"recommended-stories\">\n<h2>Recommended Stories<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/energy-and-environment\/4415339\/judge-orders-restart-rhode-island-revolution-wind-project-trump-crackdown\/\">Judge orders restart of Rhode Island offshore wind project in blow to Trump crackdown<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/energy-and-environment\/4414266\/trump-pipeline-rules-energy-transport-costs\/\">Trump administration targets energy costs with regulatory overhaul<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/policy\/energy-and-environment\/4414363\/trump-likely-bar-exxon-venezuela-oil-investment\/\">Trump likely to bar Exxon from Venezuela oil investment: &#8216;They&#8217;re playing too cute&#8217;<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"article-paywall\">\n<p>&ldquo;Noting that these supply chains have also become highly concentrated and vulnerable to disruption and manipulation, the Secretary urged attendees to increase their <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-announces-changes-to-get-china-to-comply-with-trump-era-trade-agreement\/\" title=\"Biden Administration Announces Changes To Get China To Comply With Trump-Era Trade Agreement\">supply chain resiliency<\/a>, and thanked attendees for their willingness to both learn from and work quickly with each other towards decisive action and lasting solutions,&rdquo; the department added.&nbsp;<\/p>\n<p>The leading industrialized nations, also known as the G7, consist of the U.S., Britain, Japan, France, Germany, Italy, and Canada, as well as the European Union. Last June, the G7 <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.g7.utoronto.ca\/summit\/2025kananaskis\/250617-critical-minerals.html\">agreed<\/a> to an action plan to diversify and encourage investment in critical minerals projects.<\/p>\n<p>Critical minerals and rare earths are strategic resources for countries worldwide, which need these materials to develop technology-based applications in sectors such as energy and defense.&nbsp;<\/p>\n<p>However, China has used its market control against countries such as the U.S. and now Japan, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-suspected-in-damaging-taiwans-undersea-internet-cables\/\" title=\"China suspected in damaging Taiwan\u2019s undersea internet cables\">raising national security concerns<\/a>.&nbsp;<\/p>\n<p>Most recently, China imposed export <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/china-curbs-rare-earth-exports-japanese-companies-after-dual-use-ban-wsj-reports-2026-01-08\/\">restrictions<\/a> on rare earths and magnets on Japanese companies earlier this month. The restrictions follow Japan&rsquo;s comments that it could deploy its military if China uses force to try to seize Taiwan. Japan has since reached out to G7 leaders regarding China&rsquo;s restrictions.&nbsp;<\/p>\n<p>Japanese Finance Minister Satsuki Katayama <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-09\/japan-calls-for-smooth-trade-with-china-for-rare-earths-food\">told reporters<\/a> on Friday that, &ldquo;The fundamental consensus among the G-7 nations is that it is unacceptable for countries to secure monopolies through non-market means.<\/p>\n<p>&ldquo;This poses a crisis for the global economy and is extremely problematic for economic security,&rdquo; he added. Katayama was in attendance at Monday&rsquo;s meeting.<\/p>\n<p>Last year, China imposed several restrictions on the export of rare earth materials. In November, President Donald Trump <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.whitehouse.gov\/fact-sheets\/2025\/11\/fact-sheet-president-donald-j-trump-strikes-deal-on-economic-and-trade-relations-with-china\/\">reach<\/a><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.whitehouse.gov\/fact-sheets\/2025\/11\/fact-sheet-president-donald-j-trump-strikes-deal-on-economic-and-trade-relations-with-china\/\">e<\/a><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.whitehouse.gov\/fact-sheets\/2025\/11\/fact-sheet-president-donald-j-trump-strikes-deal-on-economic-and-trade-relations-with-china\/\">d<\/a> a deal with China to lift some export controls for a year, but restrictions on other rare earths remain.&nbsp;<\/p>\n<p><strong>&#8203;&#8203;<a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/energy-and-environment\/4410535\/trump-eyes-venezuelan-critical-minerals\/\">TRUMP EYES VENEZUELAN CRITICAL MINERALS IN ADDITION TO OIL<\/a><\/strong><\/p>\n<p>The Trump administration has been working to expand the domestic supply chain for critical minerals. However, reducing dependence on China may take years. In the meantime, it has entered into agreements with other countries, including <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/energy-and-environment\/3864829\/trump-critical-mineral-deals-asian-nations-chinese-restrictions\/\">Malaysia<\/a>, Thailand, Cambodia, and Australia, to diversify the supply chain.<\/p>\n<p>To build up the supply, the administration has also pushed for reform legislation, fast-tracked <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/energy-and-environment\/3863714\/permitting-council-mining-projects-moving\/\">permitting<\/a>, and direct ownership in critical minerals companies. For instance, the administration has taken a 5% stake in Lithium Americas, a Canadian company developing a lithium mine and processing plant in Nevada, and a&nbsp;<a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/energy-and-environment\/3469212\/unusual-dod-deal-stake-rare-earth-supplier-key-china-competition\/\">15% stake<\/a>&nbsp;in MP Materials to build a <a href=\"https:\/\/amzn.to\/3YuVZYV\" >rare-earth magnet supply chain<\/a> through the company&rsquo;s second U.S. magnet facility.<\/p>\n<\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bessent convenes G7, Aus. &amp; India on critical minerals<\/p>\n","protected":false},"author":3511,"featured_media":2534012,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/01\/AP25343836138547.jpg?w=696","fifu_image_alt":"","footnotes":""},"categories":[33651,538],"tags":[8960,70748,57219,9231,48678],"class_list":["post-2534011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","category-washington-examiner","tag-australia","tag-critical-minerals","tag-g7-2","tag-india","tag-scott-bessent"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/01\/AP25343836138547.jpg?w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2534011","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3511"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2534011"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2534011\/revisions"}],"predecessor-version":[{"id":2534015,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2534011\/revisions\/2534015"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2534012"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2534011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2534011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2534011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}