[SMM Flash: Australia and Japan Establish Critical Minerals Partnership] Australia and Japan intend to collaborate in building a secure and reliable critical minerals supply chain, further deepening their existing energy security cooperation. Shortly after the conclusion of the 12th Australia-Japan Foreign and Defense Ministers' Meeting, Australian Foreign Minister Penny Wong stated that Australia hopes the next phase of bilateral relations will focus on economic security in the critical minerals sector. Japanese and Australian producers have already initiated cooperation in critical minerals projects. For instance, in 2023, Japanese trading firm Sojitz and energy agency Jogmec signed a A$200 million (approximately $130.9 million) offtake agreement with Australian producer Lynas Rare Earths. Under the agreement, the two Japanese companies will purchase 65% of Lynas' heavy rare earth production.