The Group of Seven (G-7) nations are set to announce a critical minerals production alliance aimed at countering China’s dominance in the sector, Bloomberg News reported. The pact, to be unveiled at the energy ministers’ meeting in Toronto on Friday, builds on the action plan agreed at the G-7 leaders’ summit in June. According to an official, the alliance seeks to address what the G-7 views as China’s market manipulation, including flooding supply to undercut Western projects and imposing export controls. Key features include offtake agreements, where buyers commit to a fixed percentage of mine output at set prices, alongside price floors and stockpiling arrangements. The pact will span various critical minerals and firms across G-7 countries, with Canada expecting economic gains due to its abundant mineral reserves.