At a press conference in Tokyo on June 21, 2024, to announce a large concentration of manganese nodules rich in rare metals in the Pacific Ocean inside Japan’s exclusive economic zone. From left, Executive Director Mitsuyuki Unno of The Nippon Foundation, the author and Professors Yasuhiro Kato...
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Cobalt and nickel are essential for making batteries for electric cars, smartphones, and other electronic devices, so having a steady supply is vital.
Until now, Japan has relied heavily on imports for these metals, with countries like the Democratic Republic of the Congo (DRC) and Australia being key suppliers.
But this discovery could change that, allowing Japan to meet its own needs and reduce its reliance on foreign sources.
The new reserves could cover Japan's cobalt needs for the next 75 years and its nickel needs for the next 11 years.
The discovery is significant on a global scale.
According to the Cobalt Institute's 2023 report, the world currently has about 8.3 million tons of cobalt reserves.
Japan’s new find adds more than 7% to that total.
While the DRC dominates cobalt mining, China plays a crucial role in processing, controlling 72% of the world’s cobalt refining industry.
The cobalt and nickel found by Japan are part of polymetallic nodules, with a total quantity estimated at 230 million tons. These nodules contain other valuable metals as well, which could further boost Japan’s position in the global market.
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