Japan, EU to explore joint rare earths procurement, Nikkei reports
As China, the dominant supplier of rare earths, tightens export controls, global manufacturers are concerned that Beijing's decision to curb exports of rare-earth alloys, mixtures and magnets could slow production and disrupt supply chains.
Japan and the EU will launch a new "economic two-plus-two" dialogue to bring together their foreign and economy ministers, expected to be announced at the Japan-EU leaders' summit scheduled for July 23, according to the report.
The framework will seek to further deepen Japan-EU relations, it said, adding that the parties agreed to the new dialogue at the working level and will use the initiative to jointly develop supply chains for critical minerals such as rare earths.
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Nissan Posts $782 Million Loss Amid Factory Closures, Restructuring
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