Tokyo (VNA) – Japan’s Sojitz Corporation is looking towards Southeast Asia and other regions as potential new sources of rare earth supplies beyond Australia, as part of efforts to expand production capacity and diversify supply chains for the critical materials.
Chief Financial Officer Makoto Shibuya said regions connected to southern China, including Laos and Cambodia, were among the areas the company viewed as having strong potential for future development. He added that the company would also consider investment opportunities in rare earth projects in India and elsewhere should suitable prospects emerge.
Rare earth elements are among the critical minerals widely used in advanced manufacturing industries, including the production of magnets for electric vehicles and mobile devices. China currently dominates the global supply chain for rare earth materials, giving Beijing considerable leverage in trade and diplomatic negotiations. Other countries, including Japan, have been seeking to reduce their dependence on Chinese supplies.
Sojitz, together with the government-backed Japan Organization for Metals and Energy Security (JOGMEC), has maintained a joint venture partnership with Lynas Rare Earths of Australia for more than a decade.
In mid-March, the parties agreed to begin negotiations on the exploration and development of rare earth mineral resources, including potential new mining sites both within and outside Australia./.
Japan to cooperate with Malaysia on rare earth refining
Japan will provide technological support to Malaysia in the field of rare earth refining as part of efforts to diversify supply chains.
