Japan, US May Establish New Int'l Partnership To Access Rare Raw Materials - Reports

Japan and the United States are in talks over a new international cooperation format that would provide its participants with an equal access to rare and strategically important raw materials, Japanese newspaper Sankei Shimbun reported on Wednesday, citing government sources

TOKYO (UrduPoint News / Sputnik - 19th May, 2022) Japan and the United States are in talks over a new international cooperation format that would provide its participants with an equal access to rare and strategically important raw materials, Japanese newspaper Sankei Shimbun reported on Wednesday, citing government sources.

The main purpose of the "partnership for the security of mineral resources" will be to reduce the dependence of participants on China, abundant with mines, as well as secure equal access to raw materials used specifically to produce semiconductors, the report said.

It is possible that the potential framework will be discussed at the meeting between Japanese Prime Minister Fumio Kishida and US President Joe Biden in Tokyo on May 23, the report said. If they reach an agreement, the new framework could be announced into existence as early as June, the report said.

The new framework is expected to include 10 countries, including Japan and the US, as well as Australia, Canada and unspecified Asian countries, sources said.