#Japan to promote investment in #Congo for stable rare mineral supply

Japan and the Democratic Republic of the Congo have signed an agreement to cooperate in rare earth mineral mining in the African country, aiming to promote Japanese investment and expand supplies of resources critical for a wide range of consumer and industrial products.

Congo, formerly known as Zaire, has major natural deposits of rare earth minerals such as cobalt, a crucial material in lithium-ion batteries used to power electric cars and other electronics.

The Japanese government plans to encourage investment by Japanese companies in Congo’s rare earth mining sector, introducing them to business opportunities through seminars and other means while using its official development assistance aid to provide funding.

Tokyo hopes to help Japanese firms secure rights over mines in Congo and long-term procurement contracts to strengthen Japan’s rare earth supply chains, according to a Ministry of Economy, Trade and Industry official.

Read more at: https://japantoday.com/category/business/japan-to-promote-investment-in-congo-for-stable-rare-mineral-supply

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