Japan plans to start extracting rare earth elements from the seabed near Minami-Torishima Island in fiscal 2025, beginning January 2026, according to Nikkei Asia (gated).
In brief:
The project, aimed at reducing dependence on China for critical minerals used in electric vehicles and electronics, was originally set for 2024 but was delayed due to a late pipe delivery.
Location: Pacific Ocean, approximately 1,900 km southeast of Tokyo, near Minami-Torishima IslandResources: Mud rich in rare earths, including cobalt and nickelTimeline: Extraction to begin in early 2026Strategic Goal: Diversify Japan’s supply chain for rare earths, currently dominated by China
This article was written by Eamonn Sheridan at www.forexlive.com.