U.S. and Japan are collaborating in joint research and development of undersea mining of rare earth minerals in Minamitorishima Island in a move to rival China’s dominance of global rare earth mining.

The partnership between the U.S. and Japan on undersea mining was reached in March, during a strategic summit between U.S. President Donald Trump and Japanese Prime Minister Sanae Takaichi.

A White House statement highlighting some of the agreements under a new memorandum of cooperation between the U.S. and Japan stated that the two countries would accelerate joint research and development and industry cooperation on commercially viable development of deep-sea critical minerals resources, including rare-earth muds near Japan’s Minamitorishima Island that could meet centuries’ worth of industrial demand.

The U.S. and Japan reached a ‘Critical Minerals Action Plan’ to increase the production and diversity of critical minerals, developing a plurilateral trade initiative supported by price floors or other measures.

Japanese officials are considering bringing in US companies with expertise in offshore drilling and oil and gas operations, and Houston-based Deep Reach Technology has already held preliminary discussions with Japanese officials regarding potential involvement in extracting the deposits, noted the White House.

According to reports, plans appear to be taking shape for how the Minamitorishima project might proceed, with Japan’s Cabinet Office recently reporting the results of test samples retrieved earlier this year, showing significant levels of yttrium, gadolinium and dysprosium, with more test drilling planned, with a target of developing a plan for commercialisation by 2028.