This years’ gabfest took place last weekend, and the resulting joint statement said the bloc is “deeply concerned about the abrupt constriction and future reliability of key supply chains, specifically for critical minerals.

Critical minerals, which include rare earth elements, are an important component of various cutting-edge hardware, ranging from semiconductors and electric vehicles to jet fighters.

The factsheet released following the Quad Foreign Ministers Meeting (QFMM) stated, "Today, Quad Foreign Ministers are proud to announce the launch of the Quad Critical Minerals Initiative, an ambitious expansion of our partnership to strengthen economic security and collective resilience by collaborating on securing and diversifying critical mineral supply chains.