Japan and the United States are preparing to discuss collaboration on the development of rare earth elements around Minami-Torishima during a summit scheduled for the 19th between Japanese Prime Minister Sanae Takaichi and U.S. President Donald Trump. Officials from both countries have indicated that they are considering drafting a joint document that would outline cooperative measures aimed at securing a stable supply of these critical materials, with a focus on potentially joint development efforts. This comes against the backdrop of China controlling a significant portion of the global rare earth market, holding approximately 70% in mining and over 90% in refining processes.

The need for diversified supply chains has become a critical issue for both countries, especially given China's tighter export regulations on rare earth elements. In February, a Japanese government-led research team announced the successful retrieval of mud containing potentially viable rare earth elements from the seabed in the Exclusive Economic Zone (EEZ) around Minami-Torishima. This summit represents a strategic move for both Japan and the U.S. as they seek to strengthen their positions against dependence on China for essential materials, indicating a significant shift in economic security policy.

Both leaders previously signed a joint document related to rare earths during their first meeting in October last year, where they agreed on a framework of cooperation to ensure stable supply. This framework included the joint selection and funding of mining and processing initiatives, underscoring the importance of international collaboration in addressing the challenges posed by reliance on a single supplier. The upcoming discussions are expected to further solidify this partnership, highlighting the growing recognition of the strategic value of rare earth resources in global geopolitics.