What's Happening?
Japan is set to begin testing the extraction of rare earth elements from the seabed near Minamitorishima, a remote island, as part of its strategy to reduce reliance on China for these critical materials. The operation, scheduled from January 11 to February
14, will involve testing deep-sea mining equipment to extract rare-earth-rich mud from depths of around 6,000 meters. This initiative is part of Japan's broader efforts to secure a stable supply of minerals essential for various industries, including electric vehicles and advanced radar systems. The Japanese government has invested approximately 40 billion yen ($256 million) in this project since 2018.
Why It's Important?
Rare earth elements are crucial for manufacturing a wide range of modern technologies, and China currently dominates global production. Japan's initiative to mine these elements from its own seabed could significantly alter global supply chains and reduce dependency on China. This move is part of a larger effort by the United States and its Pacific allies to increase rare earth production and secure supply chains. If successful, Japan's project could lead to a more diversified and stable global market for these critical materials, impacting industries reliant on rare earths.
What's Next?
If the trial mining operation proves successful, Japan could commence full-scale mining as early as February 2027. This would mark a significant step in Japan's efforts to build a domestic supply chain for rare earths. The initiative also aligns with recent agreements between Japan and the United States to cooperate on critical mineral supply chains. However, the project faces challenges, including potential environmental impacts and geopolitical tensions, as evidenced by the presence of Chinese navy ships near the island during previous surveys.
