China is ahead in the race for critical minerals, while Japan, the United States and Canada are accelerating efforts to secure supplies. South Korea is expected to restart public support, against a backdrop of China expanding its influence from upstream operations through refining by leveraging provincial governments and state policy banks.
China is leading the way in securing critical minerals, while Japan, the United States and Canada are accelerating exploration and procurement efforts. China is emphasizing a policy of expanding its influence from upstream operations through refining by leveraging provincial governments and state policy banks. This could shift the balance of power in global mineral supplies.
In Japan, JOGMEC is sharing risks during the early-stage exploration phase, while South Korea is reportedly expected to restart public support. How countries deploy and differentiate their policy and fiscal tools has become a key focus of the competition to secure critical minerals.