US, Australia, Japan, India to collaborate on rare earths production – Nikkei

The U.S., Australia, Japan and India are teaming up to develop rare earths projects and technologies to challenge China's dominance in the sector, Nikkei Asia reported March 11.

Rare earths are essential in making electric vehicle batteries and smartphones and for other applications. In 2020, 58% of global rare earths production came from China, the report said, citing data from the U.S. Geological Survey. The U.S. accounted for 16%, Australia 7% and India 1%.

The four nations that comprise the Quadrilateral Security Dialogue are expected to confirm their plan March 12. They will first focus on developing "low-cost, low-radioactive-waste refinement technologies," according to the report.

The planned partnership will also facilitate loans to mining and refining businesses that will be provided by government-backed financial institutions. In addition, Japan is considering joining the United States' plans to process Australian rare earth ores in the U.S, the report said.