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ANIJapan's PM Takaichi and US President Trump Japan and the United States will jointly study developing rare earth mining in the waters around Minamitori Island in the Pacific, Japanese Prime Minister Sanae Takaichi said on Thursday. Co-development of rare earth minerals was a key topic in her meeting with U.S. President Donald Trump last week, Takaichi told a parliamentary session. During Trump's visit to Tokyo, the two countries signed a framework agreement for securing rare earth supplies to counter China's dominance in the materials that are used in everything from cars to fighter jets. There is an abundance of mud that potentially holds rare earths around Minamitori Island, some 1,900 km (1,180 miles) southeast of Tokyo, Takaichi said. Japan plans to test the feasibility of raising rare earth mud from a depth of 6,000 metres in January, according to Takaichi.Live Events "We will consider specific ways to promote cooperation between Japan and the United States on rare earth development ... around Minamitori Island," Takaichi said. The Japanese government is pushing ahead with a national project to develop domestic rare earth production as part of broad efforts to strengthen maritime and economic security. Surveys have confirmed the presence of rich rare earth mud at depths of 5,000 to 6,000 metres within Japan's exclusive economic zone near Minamitori Island, according to an executive with the government-backed project. If the initial tests are successful, the project aims to launch trial operations of a system capable of recovering 350 metric tons of mud per day from January 2027. China dominates global rare earth extraction, although the U.S. and Myanmar control 12% and 8% respectively, according to the Eurasia Group. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onrare earth mineralsJapan rare earth miningMinamitori IslandUS Japan cooperationSanae TakaichiChina rare earth dominanceeconomic security (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onrare earth mineralsJapan rare earth miningMinamitori IslandUS Japan cooperationSanae TakaichiChina rare earth dominanceeconomic security(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
