Japan and the United States are beginning a joint exploration of the possibilities for extracting rare earth elements in the waters around Minamitorishima Island, located in the Pacific Ocean approximately 1,900 kilometers southeast of Tokyo. Japanese Prime Minister Sanae Takaichi emphasized that this area of cooperation became one of the main topics of her meeting with U.S. President Donald Trump last week.
This is reported by Finway
Strengthening Energy and Economic Security
Japan and the United States have already signed a framework agreement aimed at ensuring reliable supplies of rare earth metals. The key goal is to reduce dependence on the supply of these strategic materials from China, which currently dominates the global market. Rare earth elements are essential for the functioning of many high-tech industries, including automobile manufacturing and military equipment, particularly fighter jets.
“Japan and the United States will jointly explore the possibility of developing rare earth element deposits in the waters around Minamitorishima Island in the Pacific Ocean,” said Japanese Prime Minister Sanae Takaichi.”
Canada Strengthens Investments in Critical Minerals
At the same time, Canada recently announced significant investments in the extraction and stockpiling of critical minerals. The country’s government has allocated $4.6 billion for the development of new projects and has formed partnerships with allied states. To achieve this goal, Canada is implementing mechanisms that allow the use of the Defense Production Act to build stockpiles of strategic resources, similar to steps previously taken by the United States. Investments in the development of the critical minerals sector are part of efforts to increase defense spending in line with commitments to NATO, which U.S. President Donald Trump has repeatedly called insufficient.
Overall, G7 countries are actively working to reduce China’s influence on global supply chains of rare earth metals, which is particularly important for ensuring economic and national security.