Mitsubishi Materials (5711.JP) rose over 14% for the day, anticipating US-Japan rare metals cooperation

Mitsubishi Materials (5711.JP) today (18th) closed at 5,603 yen, with a daily increase of 14.28%. Reports indicate that the governments of Japan and the United States plan to reach a consensus on the joint development of rare earths, lithium, and copper during their summit on Thursday (19th), and promote the participation of Japanese companies in related domestic projects in the United States.

As for Mitsubishi Materials, it is adjusting its investment and participation in the rare earth refining business in Indiana, planning to recover rare earths and rare metals from waste permanent magnets for reuse. In addition, the company also plans to advance a copper smelting project in collaboration with a UK company that produces from waste electronic substrates