Japan and Saudi Arabia Sign Cooperation Agreement for Mineral Procurement

Japan and Saudi Arabia to Cooperate on Procurement of Important Minerals

The Ministry of Economy, Trade and Industry of Japan announced on the 25th that a memorandum of cooperation has been signed with Saudi Arabia to ensure the stable procurement of important minerals required for electric vehicles (EVs) and batteries. Saudi Arabia will leverage its financial capabilities to secure equity interests in mineral-rich mines in Africa, while Japan will strive to ensure the supply of nickel and lithium and promote cooperative investment. The two countries will exchange information on policies, regulations, and surveys related to mineral resources, and also consider talent development through joint training and expert exchanges.