$1.5-billion earmarked for developing alternative sources (non-Chinese supply) of rare earths
India and Japan makes strategic partnership to explore stakes in deep-sea mining
India and Japan have formed a joint venture partnerships to secure supplies of rare earth elements, with Japanese firms backed by the government entering into partnerships including between Sumitomo Corp and the Kazakhstan National Mining Co - Kazatomprom; Toyota Tsusho and Sojitz partnering with Vietnam’s Dong Pao project; Japan Oil, Gas and Metals National Corporation (JOGMEC) partnering with India to explore for REEs and establish a processing facility; and JOGMEC seeking investments in Australia’s Lynas Corporation.
Indo-Japanese collaboration in the field of rare earths holds immense potential in the backdrop that Japan is the second largest consumer of rare earths globally and a vital component of Japanese policy of regional integration has been its ‘rare earths diplomacy initiative’ as part of which, Japan has been the key in building capacities including opening a Rare Earth Research and Technology Transfer Centre in Hanoi, Vietnam.
Moreover, Japan’s Natural Resources and Energy Agency has commissioned Japan Oil, Gas, Metals National Corporation to develop robotic deep-sea mining technology to evacuate minerals.
The primary aim is to stabilise the supply of rare metals used for high-tech equipment.
I won't be surprised to see the Japanese "also" come in on the project development funding for NTU's Browns Range project - it would be "small change" for them compared to what they are throwing at other more speculative ventures.
Lets face facts the Japanese virtually gifted Lynas $500M to keep them in business.
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