INSUBCONTINENT EXCLUSIVE:
In a significant move towards resource independence and diversified supply chains, Japanese Prime Minister Fumio Kishida and Saudi Arabian
Crown Prince Mohammad bin Salman are entering a strategic partnership.This partnership aims to develop rare-earth resources essential in
various sectors, including technology and renewable energy, particularly for electric vehicle manufacturing.China overwhelmingly dominates
this sector, leading Japan to seek alternatives to lessen this dependence.The countries have formalized their collaboration with a
of new rare-earth deposits.JOGMEC will provide technical support to Riyadh for this purpose and will also work to speed up existing resource
development projects.This partnership underscores a broader, global trend where nations aim to diversify their supply chains and reduce
reliance on single, dominant producers like China, thus ensuring greater security and sustainability in their resources.
