Canada offers Italy priority access to critical minerals

Prime Minister Mark Carney has offered Italy priority access to Canada’s critical mineral reserves as the two countries expanded cooperation on supply chains, defence and energy during talks at the G7 summit in France.

The meeting with Italian Prime Minister Giorgia Meloni in Évian-les-Bains builds on a year of growing bilateral engagement centred on critical minerals. Recent developments include Italian energy company Eni’s nearly $100-million (US$71.5-million) investment to secure graphite from Nouveau Monde Graphite’s (TSX-V, NYSE: NMG) Matawinie project in Québec, Italy’s entry into the Critical Minerals Production Alliance and a series of trade and investment initiatives between the two countries.

“Italy’s intention to collaborate with Canada to stockpile critical minerals will catalyze further partnerships between our countries in energy and industry,” the Canadian government said in a statement.

Meloni thanked Carney for his decision to grant Italy priority access to Canada’s critical mineral reserves, a move that would help safeguard supply chains.

Core supplier

The agreement highlights Canada’s efforts to position itself as a strategic supplier of minerals essential to battery manufacturing, defence technologies and industrial production as Western allies seek alternatives to Chinese mining and processing. The move also strengthens economic ties between Ottawa and Rome at a time when G7 countries are working to secure access to critical resources and reduce geopolitical vulnerabilities.

The leaders also launched negotiations for Canada’s purchase of Leonardo’s M-346 advanced jet trainer aircraft. Ottawa said the proposed acquisition would strengthen the Royal Canadian Air Force’s training capabilities while advancing its Defence Industrial Strategy through partnerships with trusted allies.

Carney also highlighted plans for a new Defence, Security and Resilience Bank linked to NATO that is aimed at financing long-term defence and security projects.

Beyond economic and defence cooperation, Carney and Meloni reaffirmed support for Ukraine and agreed on the need to maintain pressure on Russia to achieve a lasting peace. The leaders also discussed developments in the Middle East and agreed to remain in close contact.