【Overseas】Japan to conduct rare earth test mining on Minamitorishima Island

Japan's "Sankei Shimbun" reported on October 22nd that the Japanese government plans to mine confirmed rare earth deposits off Minamitorishima Island, the easternmost point of the country, in fiscal year 2024. Coordination efforts are in progress, and the 2023 supplementary budget includes funds for this project. Rare earth elements are essential in high-tech product manufacturing.

A large amount of rare earth mud, enough to meet global demands for centuries, has been found 6,000 meters deep near Minamitorishima Island. The Japanese government plans a month-long experimental mining, following successful extraction from seabed mud at 2,470 meters off Ibaraki Prefecture's coast in 2022. Currently, Japan imports about 60% of its rare earth from China.