US and Japan agree critical minerals action plan
The two nations will accelerate joint R&D on deep-sea resources and seek to increase production and diversity of critical minerals.
Ths will include rare-earth muds near Japan’s Minamitorishima Island 'that could meet centuries’ worth of industrial demand'.
The countries will also develop a plurilateral trade initiative supported by price floors or other measures.
The announcement comes after the US Department of Energy’s Office of Critical Minerals and Energy Innovation announced a funding opportunity for up to US$500mln to expand domestic critical mineral and materials processing and derivative battery manufacturing and recycling.
Funding awarded will support demonstration and/or commercial facilities for critical minerals processing, recycling, or use for manufacturing, which may include traditional battery minerals such as lithium, graphite, nickel, copper, aluminum, as well as other minerals that are contained within commercially available batteries.
This is the third round of funding issued through the government's Battery Materials Processing and Battery Manufacturing and Recycling programmes.
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