Japan Dives Into Rare Earth Mining on Seabed

Japan is shifting from the research and development stage to rare earth mining with the stimulation of the national economic security requirements. If everything goes well, the country's dependence on China for rare earth metal supply will be greatly reduced or eliminated by the end of this decade. Currently, China is the dominant producer of rare earths, accounting for approximately 85% of global production.

(Photo source: JOGMEC)

In Japan's new National Security Strategy document released in December, 2022, it was stated that " with regard to supply chain resilience, the country will curb excessive dependence on specific countries." In addition, the country will "ensure stable supply of critical commodities, including rare earths, and promote private sector capital strengthening of key commodities and technologies, strengthen policy-based financial functions to protect and nurture critical goods."

Rare earth metals are a group of materials composed of 17 heavy metal elements, some of which are crucial for the manufacture of electric car motors (dysprosium), wind turbines (neodymium), and other electronic devices. They are used in magnets, batteries, lasers, and many other industrial products and processes. Currently, about 60% of Japan's rare earth metal imports come from China, but if they can be extracted, there are large reserves of them on the seabed.

Last August and September, Japanese marine engineers successfully extracted seabed material from a depth of nearly 2,500 meters in waters near Minami-Torishima, marking a new stage in Japanese research and practice of seabed rare earth mining. Now, the pumping system needs to be extended to a depth of 6,000 meters, as a large amount of rare earth-containing deposits have been found at this depth. The pumping plan from this depth is scheduled to start in 2024.

(Photo source: JOGMEC)

The Japan Organization for Metals and Energy Security (JOGMEC) will be allowed to invest up to 75% in rare earth mining projects. JOGMEC's official English name was previously the Japan Oil, Gas and Metals National Corporation, and was changed to its current name in November of last year. JOGMEC was established in 2004, combining the functions of the former National Oil Corporation and Metal Mining Agency, and is committed to ensuring the stable supply of oil, gas, coal, and metals to the country’s industry. Under its new name, JOGMEC is now also promoting carbon neutrality, capture, and storage, stable supply of hydrogen and ammonia, methane hydrate research and development, geothermal energy, and offshore wind power.

Reference: https://asiatimes.com/2023/01/japan-dives-into-rare-earth-mining-under-the-sea/

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