⁣Japan, Australia firms urge support in critical minerals

Japanese and Australian business leaders have called on their governments to support companies working in critical minerals. They say the industry is less stable than other sectors and comes with significant risks.
About 700 executives and government officials from the countries gathered Monday for an annual event hosted by the Japan Chamber of Commerce and Industry.
The president of a major Japanese trading firm said the critical minerals market is small relative to iron ore and copper, and poses major business risks. He added there needs to be government assistance for initial investment and measures to ease the risk of price fluctuations.
The chairperson of an Australian resource development firm said collaboration between governments is crucial--and not just between Japan and Australia.
Discussions are set to continue on Tuesday and finish with a joint statement on economic cooperation.
Meanwhile, Japanese Finance Minister Katayama Satsuki met with Australian Treasurer Jim Chalmers in Tokyo on Monday. They concluded a memorandum of cooperation for the establishment of a new dialogue framework toward the securing of energy and critical minerals.

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