Nikkei Asia reported that Japanese trading firm Sojitz and the Japan Metal and Energy Security Organization (JOGMEC) will invest about A$200 million ($134.7 million) in Lynas Rare Earths in Australia through Japan Australia Rare Earths by the end of March, the first time that Japan showed its interest in heavy rare earth elements. The implementation of this plan is expected to meet 30% of Japan's demand for heavy rare earths, which is an important step for Japan to get rid of China's dependence on the rare earth supply chain. At present, in the field of heavy rare earth production and processing, China has always occupied an absolute dominant position. At the same time, it has creatively used methods such as acid extraction to grasp the absolute right to speak in the field of rare earth smelting and separation, thus establishing the advantages of systematic smelting from mining to refining.
Dysprosium and terbium and other rare earth elements are key materials for new energy vehicles and wind turbine components. With the vigorous development of the wind power photovoltaic new energy industry, the market demand has continued to rise in the past two years. As a key raw material for emerging industries, countries have become more keen to obtain rare earth resources in recent years. And overseas rare earth projects are also being developed in an orderly manner. The competition in the rare earth industry may become more intense in the future.