Merz, Carney sign German-Canadian agreement on critical raw materials

Germany and Canada are set to cooperate more closely in the mining of critical raw materials.

At a meeting in Berlin on Tuesday, Chancellor Friedrich Merz and Canadian Prime Minister Mark Carney announced the signing of a memorandum of understanding on the issue.

"This is a good step towards strengthening our economies," said Merz following the talks.

Carney referred to his country's great wealth of raw materials, highlighting deposits of lithium and rare earth minerals.

In April, Beijing triggered global concern with export controls on seven rare earths.

China is by far the world market leader for these raw materials, which are considered indispensable for electric motors and laptops.