Australia, Japan strengthen critical minerals ties
Australia, Japan strengthen critical minerals ties
ReutersMon, May 4, 2026 at 5:09 AM UTC
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Japan's Prime Minister Sanae Takaichi shakes hands with Australia's Prime Minister Anthony Albanese during a press conference at Parliament House in Canberra, Australia, May 4, 2026. REUTERS/Hollie Adams
MELBOURNE, May 4 (Reuters) - Australia and Japan have beefed up their cooperation around critical minerals amid a state visit by Japan's prime minister, with the countries providing A$1.67 billion ($1.20 billion) in support for the sector and flagging more to come.
Australia and Japan will focus on strategic projects to address the most urgent supply chain vulnerabilities in mining, refining and manufacturing in the two countries, the Australian government said in a statement.
Australia plans to provide up to A$1.3 billion, while the government of Japan has provided approximately A$370 million in investments and grants, and plans to provide further investments and grants as projects develop, the statement said.
The projects build on the long-time backing by Sojitz and Japan Organization for Metals and Energy Security (JOGMEC) for Australia's Lynas Corp, the world's largest producer of rare earths outside China.
Projects that may be in line for government funding include:
• Alcoa, with Sojitz and the Japanese government, is working to develop gallium recovery at one of its operating alumina refineries in Western Australia, for use in semiconductors, LEDs, and solar cells.
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• Magnium Australia, in Western Australia, plans to produce high purity magnesium used in the automotive and aerospace sectors
• Tivan's Speewah Fluorite project in Western Australia is set to produce acid‑grade fluorite, a key raw material for hydrofluoric acid used in semiconductors, electric vehicles, and other advanced applications
• The Copi Critical Minerals Project in New South Wales is a mineral sands project looking to supply critical minerals and rare earth elements. The project is owned by RZ Resources, with participation from JX Advanced Metals and Marubeni.
• Ardea Resources' Kalgoorlie Nickel project, Goongarrie, is one of the largest nickel cobalt resources in Australia. It is being developed as a joint venture with Sumitomo Metal Mining and Mitsubishi.
($1 = 1.3877 Australian dollars)
(Reporting by Melanie Burton; Editing by Sonali Paul)
Source: “AOL Money”
