Japan takes first stake in heavy rare earths to reduce China reliance

Japan takes first stake in heavy rare earths to reduce China reliance

TOKYO -- Japan may rely on the Middle East for oil, but when it comes to the rare-earth elements vital for electric cars, the dependence is on China.
 
A new investment in Australia aims to change that. It will mark the first Japanese ownership stake in production of heavy rare earths, a key ingredient in magnets for EV motors.
 
This expands Japan's efforts to friendshore supplies of industrially important metals. Other initiatives include G-7 cooperation on urban mining.