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Japan’s Ministry of Economy, Trade and Industry will subsidize up to half the cost of mine development and smelting projects for lithium and other critical minerals by Japanese companies, Nikkei Asia reported on Sunday.

Lithium, manganese, nickel, cobalt, graphite and rare earths are reportedly the main targets for support.

The initiative seeks to secure raw materials used in manufacturing electric car engines and batteries. Japan is planning to diversify its supply chains, as, like most countries, it is dependent on China for many key minerals.

Read more at: https://www.mining.com/japan-to-subsidize-half-the-costs-of-lithium-critical-minerals-projects-report/