24 Hrs
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الاقتصادية
Japanese-American effort to challenge China in rare metals
The article discusses a Japanese-American plan to develop a rare earth metal mining project on Minami Tori-shima Island located in the Pacific Ocean. The goal is to reduce dependence on China, which dominates the market for these minerals. The project is ambitious because it aims to extract rich, complex deposits lying 6 kilometers beneath the seafloor, with expectations of producing quantities sufficient to meet global demand for up to 780 years for certain elements, such as erbium. The initiative is expected to help create an integrated supply chain from mine to finished product, aiding the United States and Japan in breaking China's influence and lowering the high costs associated with deep-sea extraction. As plans advance, testing is scheduled to be completed, and commercial operation is targeted for 2028. Despite ongoing geopolitical tensions and China's increasing interest in the site, the Japan-U.S. cooperation seeks to bolster sovereignty and economic independence in the field of rare earth elements.
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