Pertinent market/industry news/articles, page-5591

https://www.msn.com/en-au/money/news/japan-discovers-massive-metal-reserves-threatens-china-s-dominance/ar-BB1r4o58?ocid=msedgntp&pc=LCTS&cvid=0bb0dce0b556439ab806c77f37c5827d&ei=15

Japan has made a major discovery of thousands of tons of cobalt and nickel, enough to meet its needs for these metals for the rest of this century and beyond.

According to researchers from the University of Tokyo and the Nippon Foundation, this find could shift the global balance of power in the critical metals market, which is currently dominated by China.

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A Game-Changing Discovery

The newly discovered reserves include 610,000 tons of cobalt and 740,000 tons of nickel.

These metals were found on the seabed of the Pacific Ocean, about 2,000 kilometers from Tokyo, within Japan’s exclusive economic zone.

Cobalt and nickel are essential for making batteries for electric cars, smartphones, and other electronic devices, so having a steady supply is vital.

Until now, Japan has relied heavily on imports for these metals, with countries like the Democratic Republic of the Congo (DRC) and Australia being key suppliers.

But this discovery could change that, allowing Japan to meet its own needs and reduce its reliance on foreign sources.

The new reserves could cover Japan's cobalt needs for the next 75 years and its nickel needs for the next 11 years.

Japan plans to mine by 2026