Japan is diversifying its sourcing of rare earth elements, essential for high-tech industries. Sojitz Corporation plans to increase its imports of highly scarce medium and heavy rare earth elements from Australia from the current two to a maximum of six by mid-2027. Sojitz will begin importing Australian samarium in April. Lynas, Australia's largest rare earth company in which Sojitz holds a stake, mines its samarium in Western Australia and sources it from products from its soon-to-be-operational-production separation and refining facility in Malaysia.
