Japan Allocates Budget for Securing Copper Mine Interests

Nov 22, 2024 | News On Japan

TOKYO - The Japanese government plans to incorporate securing copper mine interests into its upcoming economic measures, according to a report by TV Tokyo. Copper, an essential material for electric vehicles (EVs), semiconductors, and data centers, faces increasing global demand, raising concerns over supply shortages.

Government officials revealed that a new budget worth several hundred billion yen will be allocated to acquire mining interests in Africa, known for its high-quality copper deposits. This marks the first time the government has taken such an initiative, aiming to ensure a stable long-term supply of copper.

The government is set to take its first steps in acquiring copper mine interests as part of its latest economic strategy. Copper, a vital material for EVs and semiconductors, is in high demand worldwide, leading to fears of supply shortfalls. With a new budget of several hundred billion yen, efforts will focus on securing interests in African mines known for producing high-quality copper, ensuring supply stability for the medium to long term.

To address global copper shortages, the government will allocate a substantial budget to secure mining interests in Africa. Copper is indispensable for EVs, semiconductors, and data centers, with demand surging globally. This marks the government’s first effort to acquire copper resources, aiming for stable long-term supply.

Source: テレ東BIZ

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