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MP Materials and Sumitomo to strengthen rare earth supply in Japan

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and Sumitomo Corporation announced an agreement to diversify and strengthen rare earth supplies in Japan. Further, the companies will collaborate on the supply of rare earth metals and other products. US-based MP Materials Corp. China is the world’s leading producer. SC has a long history in the rare earth industry.

Japan 225
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Nikkei: Japan to develop seabed mining of rare earth materials

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The Nikkei reports that in 2024, Japan will begin to extract rare earth materials for electric vehicles and hybrids from sea bottom mud in an area off Minami-Torishima Island, a coral atoll in the Pacific Ocean about 1,900 kilometers southeast of Tokyo. The government’s aim is to reduce the country’s reliance on China for rare earth metals.

Japan 542
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Deloitte forecasts clean hydrogen market to hit US$1.4T per year by 2050

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In a new report , Deloitte forecasts that the clean hydrogen market will top the value of the liquid natural gas trade by 2030 and grow further to US$1.4 To achieve climate neutrality by 2050, the clean hydrogen market capacity can grow to 170 million tons (MtH 2 eq) in 2030 and to 600 MtH 2 eq in 2050. trillion per year by 2050.

Clean 429
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BNEF forecasts global energy storage market to grow 15-fold by 2030 to 411 GW/1194 GWh

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BNEF’s 2H 2022 Energy Storage Market Outlook sees an additional 13% of capacity by 2030 than previously estimated, primarily driven by recent policy developments. The US and China are set to remain the two largest markets, representing more than half of global storage installations by the end of the decade.

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Evonik investing in fumed aluminum oxide production plant expansion in Japan for battery applications

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Evonik is investing in a production plant expansion for fumed aluminum oxide at its site in Yokkaichi, Japan. With this expansion investment, we further commit to accelerated growth in the lithium-ion-battery market and secure regional supply for all customers located in the fast growing battery markets of China, Japan, and Korea.

Japan 243
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CATL to supply EV batteries to Daihatsu

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Limited (CATL) and Daihatsu Motor, a wholly-owned subsidiary of Toyota, announced an MOU of Strategic Cooperation on battery supply and battery technologies to promote e-mobility in Japan. China-based Contemporary Amperex Technology Co.,

Supplies 150
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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. million b/d in 2022 and by an additional 1.6

Global 448