Japan's Prime Minister and Australia's Prime Minister have reached an agreement to strengthen bilateral cooperation in securing stable supplies of critical minerals, energy, and other essential commodities.
The agreement comes at a time when China holds a dominant position in the global supply of rare earths, while tensions in the Middle East are also heavily impacting international energy markets.
Both sides emphasized the importance of diversifying supply chains and reducing dependence on a small number of countries for strategic resources. Priority areas for cooperation include the extraction and processing of rare earth minerals, lithium, and other critical materials used in the production of batteries, electric vehicles, and renewable energy technologies.
On energy, Japan and Australia committed to advancing cooperation in clean energy sectors, including hydrogen and ammonia, as part of their long-term carbon neutrality goals.
Analysts observe that this move reflects a trend among developed economies to build more flexible and secure supply chains in response to geopolitical risks and over-reliance on certain markets.
