Strategic Summary
Global rare‑earths and critical minerals markets are tightening as strategic moves intensify. The G7 is discussing price floors and countermeasures to China’s dominance. In Quebec, Torngat Metals is advancing plans to site its rare earth separation plant in Pointe‑Noire (Sept‑Îles). The U.S. wants a stake in Thacker Pass’s lithium project. DR Congo is transitioning from cobalt export bans to a quota regime. These developments reinforce how supply sovereignty, regional positioning, and midstream capacity are becoming central to national strategies.
Key Points
G7 Consider Price Floors on Rare Earths to Counter China
G7 countries and the EU are weighing mechanisms such as price floors and export taxes to reduce dependence on Chinese rare earth supply. Canada is reportedly supportive of these concepts.
https://www.reuters.com/world/china/g7-weighs-price-floors-rare-earths-counter-chinas-dominance-sources-say-2025-09-24/Quebec’s Torngat Metals Confirms Separation Plant in Pointe‑Noire Site
Torngat Metals, a Quebec rare earth developer, has filed a new project notice to Quebec regulators to build its separation / processing plant in Pointe‑Noire (Sept‑Îles), shifting from the previously proposed Vigneault location to mitigate community and water concerns.
https://torngatmetals.com/torngat-metals-confirms-its-intention-to-establish-its-plant-in-pointe-noire-and-files-a-new-project-notice/U.S. Seeks Equity Stake in Thacker Pass Lithium Project
The U.S. administration is pursuing a 5–10% equity interest in Lithium Americas’ Thacker Pass lithium project in negotiations over a US$2.26B energy loan. Thacker Pass is a strategic lithium source in North America.
https://www.reuters.com/business/autos-transportation/trump-administration-seeks-equity-stake-lithium-americas-amid-loan-talks-2025-09-23/DR Congo Replaces Cobalt Export Ban with Quota Regime
Effective October 16, DR Congo will shift from its cobalt export moratorium to a quota system, capping exports at ~96,600 tonnes for 2026–2027, compared to 220,000 tonnes produced in 2024.
https://www.ft.com/content/89293fb8-69f0-4581-9d5d-29d2bb9e6165Torngat Metals Secures CA$165M in Financing for Strange Lake REE Project
Torngat obtained CA$110M bridge financing from Export Development Canada and CA$55M from the Canada Infrastructure Bank to push ahead with its Strange Lake rare earth project.
https://torngatmetals.com/torngat-metals-secures-165-million-in-financing-from-export-development-canada-and-canada-infrastructure-bank/
Why It Matters
Policy Tools as Supply Levers
G7 price floors signal that rare earths are no longer just commodities but political levers—governments now actively intervening in pricing and trade flows to shape supply.Quebec Positioning in Rare Earth Midstream
Torngat’s move to Pointe‑Noire underscores the importance of location, community trust, and separation capacity in building supply chain sovereignty.Private/Public Capital Convergence
The U.S. seeking equity in key lithium assets shows how governments will co-invest or demand ownership in “strategic minerals” segments.Quota vs. Ban—DRC Adjusts Strategy
Cobalt quotas replace outright bans, meaning the DRC remains central to battery supply chains, but under tighter state control.Funding Signals Confidence
Torngat’s bridge financing demonstrates that Canadian institutions are stepping up to support early-stage rare earth infrastructure—a vote of confidence in the industry.
Watchlist Companies & Entities
Torngat Metals Ltd. — Quebec rare earth developer advancing separation / processing plant in Sept-Îles region.
Homepage: https://www.torngatmetals.comLithium Americas / Thacker Pass Project — Lithium developer with pivotal North American project under U.S. equity negotiation.
Homepage: https://www.lithiumamericas.comExport Development Canada (EDC) & Canada Infrastructure Bank (CIB) — Institutions backing Torngat’s CA$165M financing for Strange Lake.
EDC: https://www.edc.ca
CIB: https://www.canada.ca/en/canada-infrastructure-bank.htmlGovernment of DR Congo / Cobalt Authority — Transitioning cobalt export strategy from moratorium to quota administration.
G7 / EU Rare-Earth Task Group — Multinational policy body exploring price control tools and supply coordination.
Critical Minerals Spotlight
Heavy & Light Rare Earths (Dy, Tb, Nd, Pr, Ce) — Central to magnet production, defense systems, electrical machines. Torngat’s deposit includes both heavy + light REEs.
Lithium — Thacker Pass project remains critical to North American battery supply security.
Cobalt — With DRC quotas, supply may tighten, pushing risk premiums and supply constraints in battery metals.
Separation & Processing Infrastructure — Upstream assets matter, but the midstream (separation, refining) is where value and sovereignty are captured.
Action Points
Follow the G7’s decision timeline on rare earth price floors and whether Canada signs on—impact on global pricing risk.
Monitor Torngat’s permitting, consultation, and public feedback processes in Pointe‑Noire; oppose or support developments.
Track the terms of U.S. equity proposals for Thacker Pass—what rights, governance, and controls are demanded.
Watch how DRC allocates cobalt quotas: which firms gain access, which output is reserved for local processing, and how quotas evolve.
Engage with Canadian funds and institutional players (EDC, CIB) to see if more rare earth developers receive early-stage backing.
This briefing is for informational purposes only and is not legal, investment, or policy advice. Information is believed accurate at time of publication. Sources are publicly available.