22
Feb
14:43
MP Materials, Sumitomo sign agreement to diversify Japanese rare earth supplies
US-based MP Materials and Japanese trading house Sumitomo Corp say they have signed a partnership agreement to strengthen rare earth supplies in Japan with a new agreement that excludes China, Kallanish reports.
Sumitomo will supply rare earths for electric vehicles and other uses in Japan, relying on US raw materials and processing in Southeast Asia countries. The companies provided no information on volumes or timing.
China accounts for 70% of rare earth p…
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