Japan, EU to explore joint rare earths procurement, Nikkei reports

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A worker scanning rock samples at a rare earth exploration project in Brazil, on July 8.

PHOTO: BLOOMBERG

Summary

• Japan and the EU plan joint public-private partnerships to reduce reliance on China for rare earths and critical minerals.
• The nations will launch an economic two-plus-two dialogue to deepen ties and identify cooperation areas from this summer.
• They will focus on simplifying EU regulations to allow Japanese companies to participate in EU projects developing supply chains.

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TOKYO - Japan and the European Union will consider joint public-private partnerships as they look to reduce their reliance on China in areas such as the procurement of rare earths, the Nikkei newspaper reported on July 17.

As China, the dominant supplier of rare earths,

tightens export controls,

Globally, countries have been trying to secure rare earth supply chains to loosen China’s grip on the materials used to build weapons, electric vehicles and many electronics.

Japan and the EU will launch a new “economic two-plus-two” dialogue to bring together their foreign and economy ministers, expected to be announced at the Japan-EU leaders’ summit scheduled for July 23, according to the report.

The talks aim to identify specific areas of cooperation between the parties from this summer onwards, it said.

The countries will jointly develop supply chains for critical minerals such as rare earths, after the two sides agreed to a new dialogue at the working level.

They will focus on simplifying EU regulations