Japan and France Collaborate on Heavy Rare Earth Project

The Japanese and French governments have announced their collaboration on a heavy rare earth production project by Caremag SAS, based in Lyon, France. They welcomed a long-term supply contract expected to meet 20% of Japan’s future demand for heavy rare earth elements like dysprosium and terbium. Japan’s Ministry of Economy, Trade and Industry (METI) has decided to contribute approximately 100 million euros through JOGMEC to support this initiative, while the French government is providing about 106 million euros in subsidies and tax reductions. The project aims to establish an alternative supply chain for heavy rare earths outside of specific countries.