U.S. Treasury Secretary Scott Bessent will call on the members of the Group of Seven and other countries to exert more effort to reduce dependence on Chinese critical minerals during a meeting on Monday, Reuters reported Sunday, citing an unnamed senior U.S. official.

The meeting will gather finance or other cabinet members from G7 countries, the European Union, Australia, India, South Korea, and Mexico, the report said, citing the official, who was not authorized to speak publicly.

The group of countries accounts for 60% of the global demand for the critical minerals, according to Reuters.

"There's a lot of different angles, a lot of different countries involved and we really just need to move faster," the newswire quoted the official as saying.

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