It seems that Australia and South Korea were given significant consideration in the G7's deliberations. It requires everyone of us to step up and contribute. This sort of acknowledgment and trust is more important because it sets the tone and agenda going forward. Nothing more than that.
However, the key point is that as a result, ministers from the G7 signatory nations, which total about $57 trillion (GDP 2024), will now prioritise, plan, and invest in South Korean and Australian critical mineral and processing industries. In order to have a stable platform, they must first invest in stable countries (developing nations come a stage later). And Australia and South Korea were specifically invited to summit because they fit that criteria. Hence, the US call to become a member in the future.
What was also significant was South Korean's newly elected President Lee and Australian Prime Minister Albanese discussing how they are going to enhance their ties with "State Capitalism" on the sidelines.
The G7's reference to the necessity of "stockpiling" caught my attention as well. Australia's stockpiling strategy, in my opinion, would involve connecting with the G7 nations.
This could account for POSCO's recent moves in Australia and pave the way for an offtake and partnership with RNU in the near future.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)