Policy for Efforts to Ensure Stable Supply of Important Minerals

Country / jurisdiction: Japan · Year: 2023 · Status: In force · Level: National · Type: Voluntary

Initially issued on 19 January 2023 and revised on 29 March 2024 by the Ministry of Economy, Trade and Industry, this policy focuses on providing financial support for the stable supply of critical minerals essential for various high-tech industries.

Key Minerals Targeted:

For Lithium-ion Batteries:  Manganese (Mn)

Nickel (Ni)

Cobalt (Co)

Lithium (Li)

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For Permanent Magnets:  Rare Earth Elements

For Semiconductors:  Gallium (Ga)

Germanium (Ge)

Areas Eligible for Financial Support:

Exploration and Feasibility Studies: Financial assistance is provided for the initial stages of mineral resource projects, including geological surveys and economic viability assessments.

Mine Development Projects: Support is offered for the establishment and expansion of mining operations for the targeted critical minerals.

Smelting and Refining Projects: Financial aid is available for projects focused on processing and refining the raw minerals into usable forms for industry.

Research and Development (R&D): Funding is provided to support innovative technologies and processes related to the extraction, processing, and utilisation of these critical minerals.

This policy demonstrates Japan's commitment to securing a stable supply of critical minerals essential for its high-tech industries, particularly in the sectors of energy storage (batteries), advanced magnets, and semiconductor manufacturing. By offering financial support across the entire value chain - from exploration to R&D - Japan aims to reduce its dependence on imports and strengthen its position in the global supply chain for these crucial resources.

Official source: https://www.meti.go.jp/policy/economy/economic_security/metal/torikumihoshin.pdf