TOKYO -- Japan has acquired its first interest in heavy rare-earth elements, which are essential for magnets used in electric vehicle motors, in a step toward weaning off a reliance on China, the world's top producer.
Supply Chain
Japan takes first stake in heavy rare earths to reduce China reliance
Sojitz, JOGMEC aim to fill 30% of domestic demand in deal with Australian miner
A heavy rare-earth mine at Mount Weld in Australia. Japan is investing in operations here to secure supplies of the materials. (Photo courtesy of Lynas Rare Earths)
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