The ruling Liberal Democratic Party announced its manifesto for the Lower House election on Wednesday, pledging to secure a stable supply of rare earths by funding mine development and refining projects as part of an effort to counter “economic coercion” — a reference to China’s ban on exports to Japan of dual-use items, including the critical minerals.
It appears the LDP, led by the hawkish Prime Minister Sanae Takaichi, is appealing to conservative voters who want Japan to take a hard-line approach to China’s escalatory measures, including this month’s dual-use ban, which targets a broad swath of products that have military and civilian use, including rare earths.
The LDP-led government said Tuesday it will spend ¥39 billion ($247 million) to diversify Japan’s sources of rare earth supplies, funding the Japan Organization for Metals and Energy Security to jointly invest with Japanese companies in the development of rare earth mines and smelting projects overseas.
