Japan, France Agree to Further Cooperate on Key Minerals

Tokyo, April 1 (Jiji Press)–Japanese industry minister Ryosei Akazawa and French economy and finance minister Roland Lescure at a meeting in Tokyo on Wednesday agreed to deepen their countries’ cooperation in diversifying procurement sources for critical minerals. Japan and France aim to build supply chains for rare earth materials through a joint public-private project. The two countries have mainly relied on China for rare earth procurement. The government-affiliated Japan Organization for Metals and Energy Security, or JOGMEC, and Japanese companies have jointly invested in a French rare earth smelting plant now being constructed by the French government. The Japanese and French governments will explore the possibilities including joint investments in third countries to secure rare earth ores. At the meeting, Akazawa and Lescure signed a joint statement to mutually provide support to foster startups in both countries. END [Copyright The Jiji Press, Ltd.]