Group 1 - China holds an undisputed dominant position in the global critical minerals sector, prompting the U.S. to focus on Oklahoma to challenge this dominance [1] - Oklahoma is becoming a hub for critical minerals, with the only nickel refinery in the U.S. and the largest lithium refinery under construction [3] - Companies like MLB Industrial and Westwin Elements are expanding operations in Oklahoma, with Westwin aiming to refine 200 tons of nickel annually, potentially meeting 10% of U.S. nickel demand [5] Group 2 - The U.S. Department of Defense is negotiating nickel supply agreements with Westwin, which will be used for military drone batteries [5] - Stardust Power plans to build a lithium refinery in Oklahoma, targeting an annual production of 50,000 tons, which would account for about 20% of U.S. projected lithium demand by 2030 [5] - A new rare earth magnet production facility is expected to begin operations in early 2024, with an initial annual output of 1,200 tons, sufficient for over 400,000 electric vehicles [5] Group 3 - Despite the optimism, challenges remain for U.S. companies in Oklahoma, including a weak education system and difficulties in attracting skilled talent [6] - The U.S. faces significant obstacles in establishing a domestic critical minerals supply chain, including a lack of commercially viable natural reserves and a shortage of skilled engineers [6] - The Center for Strategic and International Studies (CSIS) indicates that even with planned facilities, U.S. production will be far below China's, potentially less than 1% of China's 2018 output [6] Group 4 - In response to U.S. efforts, China's Ministry of Commerce is accelerating the review of export license applications for rare earths, which could impact the global rare earth market [8][9] - China is open to dialogue with other countries regarding export controls, which may influence the competitive landscape for critical minerals [9]

Group 1 - Oklahoma has become a focal point for U.S. investment in critical minerals, boasting the only nickel refining machine in the country and leading in the number of related facilities [1][3] - The state is home to the largest lithium refining plant, two lithium-ion battery recycling plants, a rare earth magnet facility, and multiple e-waste collection facilities, with more projects underway [1][3] - Companies like Westwin Elements and Stardust Power are establishing operations in Oklahoma, with Westwin aiming to refine 200 tons of nickel annually and Stardust planning to produce 50,000 tons of lithium per year by 2030 [3][6] Group 2 - Westwin Elements is negotiating a nickel supply agreement with the U.S. Department of Defense, intending to keep its production within the U.S. for military applications [4] - The state government is promoting Oklahoma as a business-friendly environment, attracting companies by simplifying regulatory processes [3] - The establishment of a rare earth magnet production facility in Oklahoma is expected to yield an initial output of 1,200 tons, sufficient for over 400,000 electric vehicles [6] Group 3 - Despite the investments, challenges remain, including a weak education system ranked 48th in the U.S., which hampers the attraction of skilled labor [7] - The U.S. Department of Defense has invested over $439 million since 2020 to develop domestic supply chains for critical minerals, with a goal to establish a complete rare earth supply chain by 2027 [8] - Analysts predict that even when new facilities are operational, their output will be significantly lower than China's, potentially less than 1% of China's 2018 production [8]

Group 1 - The leaders of the G7 countries and some guest leaders signed a declaration addressing critical mineral supply chains and wildfire issues [1]

Group 1 - The G7 finance ministers and central bank governors meeting concluded in Banff, Alberta, Canada, emphasizing the importance of unity in addressing complex global challenges [1] - The communiqué highlighted a consensus among participants that economic policy uncertainty has declined from its peak, while concerns about unsustainable global macroeconomic imbalances persist [1] - A call to action was issued to combat financial crimes, with Canada committing CAD 4.8 million in new technical assistance to developing economies [1] Group 2 - The G7 agreed to support the World Bank-led initiative to strengthen resilient and inclusive supply chains, with Canada pledging CAD 20 million for this purpose in Latin America and the Caribbean [1] - Participants acknowledged the risks associated with the increase of low-value goods imports into G7 markets [1] - Continued support for Ukraine was reiterated by all parties involved in the meeting [2]