Japan defends rare-earths industry from unwanted foreign takeovers

Tokyo beefs up economic security for strategically important metals

20210818N Colbalt

Recycled cobalt sulfate is seen at an urban mining plant in South Korea.  The metal, along with rare earths, will receive more investment scrutiny in Japan © Reuters

Nikkei staff writers

TOKYO -- Rare-earth metals were added on Wednesday to Japan's list of industries subject to tougher restrictions on foreign investment, as Tokyo attempts to shield a potential weak point in its supply chains.

The measure covers 34 materials, including other strategically important metals such as cobalt and titanium. Foreign investors will be required to notify the government before investing in a variety of connected fields, including mining, building survey ships, component analysis, and construction of ports on remote islands.

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