Japan to Subsidise Half the Cost of Lithium and Key Mineral Projects

SHANGHAI, Apr 21 (SMM) - According to Nikkei Asia, Japan's Ministry of Economy, Trade and Industry will subsidise half of the cost of Japanese companies' smelting and mine development projects for important minerals such as lithium.

The plan aims to secure the supply of raw materials such as lithium and rare earth metals, which are crucial for electric vehicle batteries and engines.

According to reports, the Japan Metals and Energy Security Organisation will set up a fund to provide support with 105.8 billion yen (about $788 million) from the budget for related expenditures.

 Lithium, manganese, nickel, cobalt, graphite and rare earths are the main targets of support.