The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on November 20 a Memorandum of Understanding (MOU) with Rio Tinto plc (Rio Tinto).
Rio Tinto is a leading global mining company operating in 35 countries worldwide. It produces and supplies essential minerals and metals such as iron ore, copper, aluminum, and lithium that are indispensable for everyday life and critical for decarbonization and the energy transition. Rio Tinto has long been one of Japan’s largest suppliers of minerals and metals, deeply engaged with Japanese companies across the entire value chain from upstream development to transportation, and continues to strengthen its collaboration with them as an important business partner. The MOU aims to support Rio Tinto and Japanese companies’ collaboration by establishing a framework to strengthen the cooperative relationship between JBIC and Rio Tinto, including enhancing the resilience of supply chains for minerals and metals such as iron ore, aluminum, copper, and lithium.
In the Fifth Medium-Term Business Plan, released in June 2024, JBIC identifies “realizing a sustainable future” and “strengthening the resilience of Japanese industry” as key focus areas. JBIC aims to contribute toward realizing both carbon neutrality and economic growth, and support strategic enhancement of the resilience of supply chains that serve the national interest. The signing of the MOU is in line with the Medium-Term Business Plan of JBIC.
As Japan's policy-based financial institution, JBIC will continue to actively support the creation and promotion of business opportunities for Japanese companies through strengthening the cooperation with important partners in the mineral resources and metals sector.
