Reference News Network, March 20 report: According to the website of the "Nikkei", on March 19, the Japanese and U.S. governments announced a cooperation project aimed at strengthening the supply chain of critical minerals. The project covers four key areas in the United States, including Mitsubishi Materials' rare earth business and investment in Mitsubishi Corporation's copper mining business.

This cooperation project was released at the time of the first summit between Japanese Prime Minister Sanae Takeda and U.S. President Trump. The specific business content was announced through a joint statement.

Takeda told the press after the meeting that regarding critical minerals, "we have compiled three documents on specific project cooperation."

Mitsubishi Materials will explore investments in the rare earth business of a local company in Indiana, the Midwest of the United States. Both sides will discuss ways to improve recycling and refining capabilities. In addition, the company will seek opportunities for collaboration with Rio Tinto Group, an Anglo-Australian resources giant, in the U.S. copper market.

Mitsubishi Corporation will invest in the "Copper World" copper mine project in Arizona, the southwest of the United States, and promote joint development. It is expected that from 2029, the maximum annual production could reach 100,000 tons.

Regarding the lithium mine project of the U.S. chemical giant Albemarle in North Carolina, the southeast of the United States, Japan and the U.S. will also explore the possibility of Japanese companies participating.

The report states that the background of Japan and the U.S. promoting the critical mineral cooperation project directly points to China.

If the supply chain breaks down, economic activities will be seriously affected. Japan and the U.S. aim to improve the current over-reliance on China by deepening their cooperation.

The Japanese and U.S. governments simultaneously compiled an "Action Plan" on the resilience of the critical mineral supply chain. The document emphasized that "critical minerals are strategic assets indispensable to modern and innovative industrial economies."

The document stated, "Establishing a diversified, resilient, and market-based supply chain is crucial for economic and national security, so it is urgent to address the fragility of the supply chain." Both sides will cooperate in areas such as coordinated reserves, new technology research and development, and sharing mineral location information.

In addition, Japan and the U.S. signed a Memorandum of Understanding on the development of marine mineral resources. Both sides will establish a working group to explore cooperation possibilities by sharing information on rare earth resources near the Ogasawara Islands.

(Translation/Chen Rui)

Original: toutiao.com/article/7619270440582431267/

Statement: This article represents the personal views of the author.