9th Global Council Meeting | Summary

5 March 2026, online

The meeting highlighted the growing impact of geopolitical tensions and competing national strategies on transition minerals. Discussions underscored the importance of linking the Global Council’s work to the French G7 Presidency. Members also agreed on practical steps to strengthen follow-up on the Council’s recommendations.

1. The Shifting Geopolitical Landscape: Takeaways from Recent Global Fora

The meeting opened with a tour d’horizon of the current geopolitical climate, informed by takeaways from the World Economic Forum in Davos, the Munich Security Conference, Investing in African Mining Indaba, and the PDAC Convention. A strong consensus emerged that the global minerals landscape is being reshaped by a return to state-centric competition and resource nationalism, not only from traditional players but increasingly from the Global North.

Members observed a shift towards more unilateral and transactional approaches. Concerns were raised about major powers, particularly the United States, pursuing bilateral agreements with individual producer countries, in some cases reportedly linked to broader development or strategic considerations and including exclusivity clauses. Such dynamics risk fragmenting the market and complicating efforts by producer regions, especially in Africa, to develop more coordinated strategies.

Resource nationalism and industrial policy were recurring themes across these events. Discussions pointed to a growing role for government intervention in the private sector through tariffs, subsidies, stockpiling mechanisms and other industrial policy tools. Members noted that while the trend is clear, there is often limited clarity on the precise objectives of these instruments or on the market failures they are meant to address.

Discussions also highlighted a persistent disconnect across the value chain. Many policy conversations continue to focus on upstream extraction without sufficient attention to the distinctions between mining, mineral processing and manufacturing, or to the role of downstream buyers, including original equipment manufacturers (OEMs). Members stressed that producing countries are seeking greater value creation and a stronger position in midstream and downstream segments, but that policy approaches must reflect the different economic realities of each part of the chain.

Finally, several participants pointed to issues that remain insufficiently integrated into current policy discussions, including the role of technology and the potential implications of seabed mining. These developments were seen as having the potential to significantly reshape supply dynamics, market structures and the broader sustainability debate in the years ahead.

2. Positioning the Council’s Work in the Context of the French G7 Presidency

The Council reviewed the priorities for the upcoming French G7 Presidency, which presents a significant window of opportunity for engagement, especially as the 2026 Paris Peace Forum will be a G7-labeled event.

The French G7 priorities on critical minerals include:

• Securing and diversifying supply chains through a pipeline of co-financed projects.

• Improving market function and price stability, potentially through a "club" of consumer and producer countries.

• Enhancing traceability and transparency as a tool to structure markets.

• Promoting innovation and circularity, with a focus on capturing high-content waste streams.

The Council was briefed on the work of the T7 (Think7) Task Force on Critical Minerals. The Task Force's forthcoming recommendations to the G7 will focus on three main pillars:

1. A political compact to strengthen dialogue between producer and consumer countries.

2. Pilot flagship initiatives to demonstrate feasible models for responsible and inclusive mining investments.

3. An implementation partnership to strengthen the circularity of critical minerals within existing frameworks.

The Council agreed that its multi-stakeholder and global perspective could provide valuable input to the G7 process, particularly in balancing supply security with development objectives, local value creation in the Global South and financing considerations.

4.      Conclusions and next steps

• The Council will engage with the G7 process by reviewing the T7 Task Force's solution paper and preparing a Global Council note to the French G7 Presidency.

• To strengthen follow-up on its recommendations, the Council agreed in principle to assign member leads across the seven recommendations.

• The next Global Council meeting is scheduled for May 21, 2026. 

• Participants took note of several upcoming events, including: 

  • Paris Peace Forum Minerals Roundtable on the sidelines of the China Development Forum (Beijing, 23 March) with the participation of Ma Jun 

  • Paris Peace Forum Spring Meeting (Rabat, 4-5 June) 

  • ECOWAS Investment Summit (May) 

  • CBD COP16 (Armenia, October) 

  • 9^th edition of the Paris Peace Forum (Paris, 11-12 November)