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Report: Japan and UK to invest jointly in critical minerals in Africa

The Nikkei reports that Japan and the UK are set to make joint investments in critical minerals in Africa and other places. The two countries will also establish a framework for discussing economic security at the ministerial level, with a focus on supply chains.

The two countries reportedly aim to cooperate in developing mines and to stabilize the supply of the minerals.

Japan now depends on certain countries, including China, for critical minerals such as cobalt and nickel minerals. Under the framework, Japan and the UK would search for mining sites and set up refining facilities in such mineral-rich areas as Africa to diversify their supply sources, according to the report.

The UK agreed with Zambia (known for its production of copper and nickel) in August to aim for a total of £3 billion pounds ($3.77 billion) in public and private green investment. Separately, the UK and South Africa have agreed to hold a regular ministerial dialogue on critical minerals.

Japan aims to pursue its interests in Africa by taking advantage of the network established there by the UK. Japan and the UK also aim to curb the growing Chinese influence in Africa.


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