#None #Japan #Rare Earths #Sojitz Corporation #Lynas Rare Earths

Sojitz Corporation Begins Importing Rare Earths from Australia

In a significant step towards securing vital raw materials for advanced technologies, Sojitz Corporation has officially commenced the importation of heavy rare earths from Lynas Rare Earths Ltd, an Australian firm. This move marks the first instance of heavy rare earths derived from Australian ore, which is extracted from the Mount Weld mine in Western Australia and then processed in Malaysia, being imported for the Japanese market.

Rare earths, often referred to as the "vitamins of industry," play a crucial role in enhancing the magnetic properties and durability of various metals. These elements are indispensable in the manufacturing of cutting-edge products such as electric vehicles and industrial robots. With the increasing demand for these technologies, having a reliable supply of rare earths has become more critical than ever.

Sojitz has a long history with rare earths, having begun its operations in this sector back in the 1960s during its predecessor, Nichimen Corporation’s era. In 2011, the company secured an exclusive sales contract for light rare earths with Lynas, further solidifying their partnership. Since then, Sojitz has engaged in multiple rounds of financing for Lynas, showcasing the commitment to establishing a strong supply chain for these essential materials.

In March 2023, the partnership reached a crucial milestone when Sojitz ensured the supply of dysprosium and terbium, key components for permanent magnets, to the Japanese market. This effort is part of the ongoing development towards commercial production and reinforces the importance of rare earths in the technology sector.

Looking ahead, Sojitz Corporation aims to further diversify its rare earth supply chain, contributing to a stable and sustainable supply of these essential materials. The push for diversification not only addresses the global supply chain challenges but also enhances Japan's capabilities in producing advanced technology. This strategic import initiative aligns with Japan's broader goals of securing critical materials necessary for energy transition technologies and reducing reliance on a limited number of sources.

Lynas Rare Earths Overview
Name: Lynas Rare Earths Ltd
Established: 1983
Location: Level 4, 1 Howard Street, Perth WA 6000 Australia
CEO: Amanda Lacaze
* Main Activities: Mining, separation, and refining of rare earths

As the global demand for rare earth elements continues to surge, Sojitz’s proactive approach could provide much-needed stability for Japanese industries reliant on these resources. The successful collaboration between Sojitz and Lynas illustrates the potential of international partnerships in navigating the complexities of mineral supply chains, ultimately benefiting both companies and the technological landscape of Japan.