YOKOHAMA – Japan and African nations agreed Friday to cooperate in realizing “stable supply and responsible development” of critical minerals amid growing global moves to ensure economic security.
A joint statement adopted at an aid conference on Africa also stressed the importance of appropriate debt management and the rule of law, apparently taking into consideration China’s growing economic and military clout.
“Given the global demand for critical minerals, we advocate for a fair and equitable partnership that supports local processing and value addition of these resources within Africa,” the declaration issued at the ninth Tokyo International Conference on African Development said.
Japanese Prime Minister Shigeru Ishiba and Angolan President Joao Lourenco will hold a joint press conference later in the day as the meeting’s co-chairs.
The Japan-led gathering took place in Yokohama as competition for access to key minerals including rare earths intensifies, with the resource-rich continent drawing businesses’ attention with its fast-growing economies and rising young population.
Critical minerals are seen as essential for innovation and decarbonization, with cobalt, for instance, used for electric vehicle batteries.
Attended by leaders and representatives from about 50 African states, discussions during the three-day conference focused on three agendas — peace and stability, economic issues, and social issues.
The TICAD talks, launched in 1993, are co-hosted by the Japanese government, the United Nations, the U.N. Development Program, the World Bank and the African Union Commission.
Africa will host the next TICAD meeting.
AloJapan.com