Japan and Saudi Arabia seek joint rare-earth investments

Both sides plan to diversify supply chains amid rising EV demand

20230714N rare earth

Much of the world's rare-earth metals, which are used in electric vehicles and other products, are currently produced in China. © Reuters

Nikkei staff writers

TOKYO -- Japanese Prime Minister Fumio Kishida and Saudi Arabian Crown Prince Mohammad bin Salman are expected to agree Sunday on joint investments to develop rare-earth resources, Nikkei has learned, as Tokyo seeks to reduce its reliance on countries like China for key minerals.

Kishida is visiting Saudi Arabia as part of a tour of the Middle East.  

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