Upon being asked about a rumored plan pertaining to a trade agreement on critical minerals between the US, Japan, as well as the European Union – EU at the regular press conference on March 13, Guo Jiakun, a spokesperson for the Foreign Ministry, said that an environment that is welcoming and accessible to everyone is good for every nation.

According to Guo, “An open and inclusive international trade environment beneficial to all serves the common interests of all countries. All parties have the responsibility to play a constructive role in keeping global industrial and supply chains on critical minerals stable and secure.”

It was Bloomberg that reported on March 13 that the US, Japan, and the EU are soon going to announce plans to lay the groundwork for a trade agreement when it comes to critical minerals. They said that China has gone on to threaten that it would indeed retaliate against the formation of a bloc, which would as well go ahead and target its exports.

The Office of the US Trade Representative happened to be in charge of the deal. They have been in charge of talks along with Brussels and Tokyo pertaining to the framework. People who have spoken on the condition of anonymity went on to tell Bloomberg that it would also lead talks for a trade deal, which would include a price floor and tariffs on the materials to prevent China from disrupting the market.

According to Reuters, the idea behind setting minimum prices via coordinated trade rules was to get private investors to pour money into processing and mining projects. projects. They want a price floor in order to make sure that suppliers get at least some amount of money back, which would help them offset their costs and also keep making things even when there is competition across the world. As per Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on March 13 that “these kinds of mechanisms don’t do much to improve suppliers’ basic skills or technological abilities.”

The director of the Center for China-Europe Relations at Fudan University’s Institute of International Studies, Jian Junbo, said that the tariffs and other trade barriers could rather go ahead and raise the cost of buying critical minerals, hence making the consumers pay more and taking on more supply chain threats.

It is well to be noted that people who watch the sector said that the real result of this US-led agreement is going to be super low because of the ongoing trust trouble caused due to US unilateralism. If interest rates keep going up, it could as well go on to make supply chains even more unstable and, thereby, cost everyone a lot of money. Tariffs or price floors, on the contrary, would not really enhance production or technology.

Interests that are at odds

Said Bloomberg that the US wants to start talks with the EU as well as Japan on a trade deal on critical minerals in April 2026, right after the comment period for stakeholders concludes on March 19.

However, there happen to be clear divisions and conflicts of interest between both the US and its allies. Politico said on March 11, 2026, that the EU and the US are getting closer to a deal in order to cut down on dependence on China for critical mineral inputs. But the deal could end up establishing an unequal partnership dominated by Washington.

Tobias Gehrke, Politico’s senior policy fellow at the European Council on Foreign Relations, said that Europe should not have any false hopes about working with the Americans. Gehrke said it’s America First, even when it comes to minerals. The report said that the plan encompassed a price floor to support other sources of supply. It could as well turn into a mechanism wherein the Europeans end up sponsoring the priority access to the US when it comes to the critical minerals. The report also goes on to quote the CEO Andreas Kroll, from Noble Elements, a German company that trades rare-earth commodities, as saying that Europe happens to be sitting at the kids’ table as compared to the US. Kroll added that many of their mid-sized customers are wondering if they ought to shift their production to the US due to supply issues.

A Reuters report from March 6 states that Japan and France, as well as Canada, have been developing alternatives to a US-led trade bloc to obtain important minerals and reduce their dependence on China. This is because they are worried regarding the power that the US has in the EU. According to the US, it wanted to build a group of allies centered around China by means of a critical minerals alliance, yet these three G7 key players are rather going their own way.

Zhou said that in recent years, it has become more difficult for Western countries so as to keep supply chains stable, particularly for critical minerals. This is mostly due to the fact that it has been hard to make progress when it comes to refining and processing technologies. Nevertheless, he said that incorrect assumptions about the market and false accusations against China could just as well take the attention away from this crucial link.

The US, the EU, and Japan all want to make the supply pressures easy from the demand side. But their interests happen to be very different. Zhou adds that the US is still the most powerful country and that it places the highest priority in terms of absolute security and stability on its critical minerals supply chains. It therefore anticipates allies like Europe and Japan catering to its strategic needs. He also said that policy prejudice will make it harder for other nations to get constant supplies and make global critical minerals supply chains less secure.

Zhou remarks that depending on tariffs or price floors will hardly improve production capacity or technological capabilities. Rather, these kinds of interventions could as well go on to hurt market-driven innovation and not lead to actual economies of scale.

It is well to be noted that China is the top European trade partner of Germany, with German auto, chemical, and pharmaceutical firms pretty heavily dependent on the Chinese markets.

The Reason It Matters

Rare earths, along with other strategic components, are indeed quite critical to international high-tech as well as industrial production. The curbs from China on exports earlier in 2025 went on to reveal the vulnerabilities in the manufacturing base of Germany, including the likes of automobiles as well as electronics, and highlighted the reliance of Europe when it comes to Chinese supply chains. Restoring the dialogue signals the willingness of Beijing to once again stabilize the industrial flows while at the same time, asserting its role as a major global supplier. As for Germany, balancing the economic dependence on China due to political pressure coming from allies such as the U.S. underlines the ongoing challenge in terms of managing strategic supply risks but without alienating a major trading partner.

The German industry, especially the automakers, pharmaceuticals, and chemicals, as well as advanced manufacturing, sure benefits directly due to the eased export controls. German policymakers, who are led by Chancellor Merz as well as Klingbeil, the finance minister, are as a matter of fact focused on securing dependable access to rare earths as well as high-tech inputs while at the same time also navigating tensions that are arising from a geopolitical perspective. The government of China as well as the state-backed firms look to maintain Germany as the top European market as well as investor, therefore making utmost use of the bilateral ties in order to offset the U.S. trade as well as technology pressure.

It is worth noting that the European Union observes quite closely given the implications for much broader supply-chain strategies along with collective European responses to the industrial policies from China.

So, what lies ahead?

In days to come, German Chancellor Merz might make a visit to China to meet up with President Xi Jinping, as the diplomatic channels along with Foreign Minister Wadephul are restarting again. Both the countries are most likely to deepen the engagement within the strategic industries in order to decrease the bottlenecks when it comes to rare earths and chips, along with other emerging technology sectors. Germany is going to continue to balance its economic pragmatism with pressure coming from the EU allies as well as the U.S. on issues such as industrial subsidies, human rights, and, of course, supply-chain resilience. China may as well push for policy alignment or a much-decreased interference pertaining to geopolitical matters as one of the preconditions so as to set a tone of deeper cooperation.

The partnership looks to deliver smart, safe as well as sustainable solutions for the mining sector, making utmost use of the advanced battery expertise of CATL and capabilities in autonomous systems of EACON.

It apparently looks forward to addressing the key mining issues, like reducing the environmental effect, elevating the safety, and also enhancing the operational efficiency.

It is well to be noted that CATL and EACON are planning to scale the electric autonomous haulage solutions throughout the mining sites across the world.

A major objective of this alliance is to create battery technology that is suited to extreme mining conditions and to also deliver the scalable autonomous haulage systems in terms of open-pit mining operations.

CATL and EACON look to build on the successful trials conducted across China, thereby expanding their reach across the world and also setting new benchmarks when it comes to mining practices that are both sustainable as well as intelligent.

The partnership also extends all the way through to capital, technology, and market, as well as ecosystem development, therefore aiming to accelerate the transition by the mining industry towards green as well as automated operations.

The CEO of EACON Mining Technology, Wason Lan, went on to say that this partnership goes on to represent quite a prominent step forward when it comes to the mining sector. He added that through combining their autonomous driving expertise along with leadership in energy solutions of CATL, they are indeed coming up with a smarter and greener future when it comes to mining haulage.

Apparently, EACON Mining Technology goes on to operate the one of the most-used autonomous haulage systems in the world.

Notably, it has gone on to automate over 2,000 trucks and also supports 25 projects that span commodities like iron ore, coal, copper, and gold, as well as zinc.

In August 2025, CATL went ahead and announced the suspension of its operations at one of the lithium mines based in Jiangxi province of China because of an expired license.

At one of the trade summits that took place in India, both Canada and the host country agreed to revive the stalled bilateral relations and also went on to reiterate their commitment in terms of deepening bilateral cooperation by way of sustained dialogue, critical minerals supply chain, mutual respect as well as forward-looking initiatives.

Apparently, both Canada and India have faced the heat of the flip-flopping trade policy by U.S. President Donald Trump in 2025.

President Trump, in October 2025, had called off all kinds of trade negotiations with Canada, which, by the way, happens to be the main U.S. trade partner, over a Canadian advert against tariffs in which the former U.S. President Ronald Reagan says tariffs are going to hurt every American.

On the other hand, India has been singled out by Trump as a major enabler when it comes to the Russian budget revenues for purchasing massive quantities of Russian crude oil. The fact is that because of the oil purchases from Russia, President Trump in August 2025 went on to double the tariff on Indian imported goods to 50%.

Both Canada and India have ambitions within the critical minerals supply chain and the sector itseld, and their collaboration and partnerships are indeed going to be advantageous to the clean energy and manufacturing objectives of both countries.

The new budget from Canada happens to include a plan for US$1.4 billion, which is equivalent to C$2 billion, of critical minerals sovereign fund in the next five years in terms of equity investments, loan guarantees, and offtake agreements.

François-Philippe Champagne, the Finance Minister of Canada, recently said that their country should work in order to refine their critical minerals.

Exploration and extraction are one thing, but what they actually require is refining. This is indeed the key said Champagne to the business leaders in Calgary, Canada.

Prime Minister Mark Carney of Canada has already vowed to make Canada an energy superpower and also the partner of choice when it comes to critical mineral supply.

India, on the other hand, has just announced a new royalty payment scheme for a list of critical minerals in a bid to go ahead and motivate miners so as to ramp up the local production, while at the same time, it is also looking to develop cobalt as well as copper in Zambia and also lithium and copper assets across Chile.

Notably, visiting U.S. President Donald Trump went on to ink the rare earths deal with Sanae Takaichi, the newly elected Prime Minister of Japan, praising the U.S.-Japanese alliance that has remained robust with time. The White House remarked that the deals, along with the trade deal from the first half of 2025, happen to be paving the way towards a New Golden Age of the ever-growing U.S.-Japan Alliance.

In the context of the minerals deal, the U.S. and Japan both went ahead and agreed to boost cooperation so as to secure the supply of critical minerals along with rare earths, which are essential to support domestic industries, through using policy tools like trade measures where appropriate, financial support mechanisms, and critical mineral stockpiling systems from the United States and Japan. They also look forward to mobilizing government along with private investment in order to support investment within mining and processing and also look to jointly identify projects of interest so as to address the gaps within supply chains for critical minerals and rare earths, which includes the likes of derivative products like permanent magnets, catalysts, and batteries, as well as optical materials.

Apparently, the U.S. deal with Japan goes on to follow a similar $3bn Australia deal that took place recently, which could very well open up access to resources amounting to $53 billion or even more.

It is well to be noted that the U.S. is looking forward to countering the dominance of China in critical minerals and rare earths, which, by the way, Beijing has used as a main tool in the U.S.-China trade war many times in 2025 alone.

President Trump has already met with Chinese leader Xi Jinping in South Korea’s Busan recently, with positive signs coming from both sides.

In spite of the major agreements along with government support in the West so as to build domestic supply chains, China has also raised its market share when it comes to critical minerals in the past few years, warned the International Energy Agency – IEA earlier in 2025 within its annual report.

It is worth noting that China dominates refining for 19 out of 20 minerals the agency has evaluated, holding an average market share of almost 70%.

It also went ahead and executed stricter rules that particularly target users within the semiconductor industry thereby compelling that EU seeks to partner with US & G7.

Apparently, China goes on to produce over 90% of the processed rare earths in the world, which are pretty necessary in products like electric vehicles as well as military radars.

These measures had been introduced ahead of the proposed meeting between Presidents Donald Trump and Xi Jinping.

The European Trade Commissioner, Maros Sefcovic, went on to describe these measures to be unjustified.

It is well to be noted that the EU trade ministers, while meeting in Denmark, went on to express their critical concern on the issue.

Notably, previous controls by China in April 2025 led to worldwide shortages, effecting industries like car manufacturing, till the time the deals with Europe as well as the US weakened the supply crunch.

Lars Rasmussen, the Danish Foreign Minister, stressed the need for a united and tough EU response, underscoring the significance of partnership with the US.

Rasmussen added that they also need to be quite realistic. This happens to be actually an area of common interest with their friends in the US. If they stick together, they can much better go on to pressure China to act in a just way.

Interestingly, Sefcovic went on to suggest that G7 coordination could very well involve diversifying supply through advancing joint projects in extracting or even processing crucial minerals.

He further said that, of course, these projects do take time; however, with this signal they have received from China, it is quite clear that they have to focus on speeding up these processes as much as they can.

It was very recently reported by the Financial Times that the Pentagon is looking to acquire almost $1bn worth of critical minerals, which is going to be a part of its global spree so as to build stockpiles and at the same time also lessen the dominance shown by China when it comes to these essential metals.

The financial details of the deal are not disclosed yet.

RPMGlobal, which happens to be headquartered in Brisbane, offers mining software solutions and has been functional since 1977.

Caterpillar went on to state that this acquisition syncs with its focus pertaining to solving customer needs and, at the same time, enhancing the mine-site operations.

RPMGlobal, apparently, offers data-driven software solutions throughout the mining life cycle that complement the existing asset management of Caterpillar, its fleet management, and the autonomy technologies and with it will enhance mining tech aspect of the company.

The group president of Caterpillar Resource Industries, Denise Johnson, remarked that RPMGlobal’s culture as well as its flexible approach so as to develop solutions aligns pretty well with the intense focus of Caterpillar when it comes to meeting up with customer desires.

He added that their software solutions go on to complement the existing technologies from Caterpillar, especially across areas like asset management, fleet management, and autonomy. All put together, they do have the potential to elevate the mine-site operations for their customers, therefore unlocking even greater value for them. Interestingly, the acquisition needs approval from RPMGlobal shareholders along with numerous regulatory authorities.

It is worth noting that this transaction is anticipated to close in Q1 of 2026.

Notably, it is JP Morgan Securities that is acting as the financial advisor to Caterpillar for the deal.

It was in 2024 that Caterpillar went on to report sales and revenues worth $64.8bn.

Caterpillar, as we all know, manufactures construction as well as mining equipment, off-highway diesel along with natural gas engines, industrial gas turbines, and, of course, diesel-electric locomotives.

In February 2025, Vale, the Brazilian mining company, inked a 5-year agreement with Caterpillar that would enhance the focus on innovation, productivity, and also carbon reduction.

This partnership happens to include coming up with a dual-fuel haul truck that operates on diesel as well as ethanol.

In September 2024, BHP had announced its plans to trial the energy transfer technology of Caterpillar.

The Cat DET system, which happens to be designed for energy transfer to mining trucks at the time of operation, is getting tested across various BHP sites, thereby helping with the charging of electric haul truck batteries in motion.

If, in case, the joint venture takes shape, it is going to represent a major policy departure for China, which happens to be the top supplier and refiner of rare earths in the world, which has gone on to ban export when it comes to its processing technology in order to protect its industry dominance.

Beijing is prepared to swap its technology so as to access untapped rare earths reserves of Malaysia, looking forward to limiting the competition from Lynas Rare Earths, the Australian rival, which has a processing plant located in the central state of Pahang, as reported by Reuters on October 2, 2025.

Hisham Hamdan, Khazanah’s chief investment officer, did not confirm the talks or plans for the proposed refinery, stating that it is way too early; however, he did acknowledge that rare earths happen to be among the industries that are getting explored by the fund.

He told Reuters in an interview on October 2, 2025, in Singapore that they do many studies on industries, and it is something they are indeed quite happy to explore and help the government with; however, it’s at the government level, so, as per him, that’s as much as they can talk of.

The State Council Information Office of China, which takes care of media queries on behalf of the government, did not respond immediately to a Reuters request for comment because of the National Day holiday.

Sources say that there are roadblocks ahead

One of the Malaysian sources said that the plan did face many roadblocks, such as concern from China about whether Malaysia will be able to supply enough raw material needed for the plant.

Two of the sources confirmed that Malaysia was also concerned about the potential environmental impact along with regulatory hurdles, as the mining activities typically go on to need approvals and licensing from state as well as federal government authorities.

Malaysia confirmed that it did not support the rare earths mining when it came to sensitive locations like permanent forest reserves along with water catchment areas.

There are indeed global manufacturers who are actually scrambling so as to secure alternative supplies of rare earths, after export curbs by Beijing in 2025 led to output delays when it came to major automakers as well as magnet producers.

It is well to be noted that Malaysia happens to have almost 16.1 million metric tons of rare earths deposits, as per the government estimates; however, it lacks the technology to mine as well as process them.

It has also gone on to ban companies from exporting raw rare earths in order to prevent loss of resources.

The only exception was granted in 2022 to one of the pilot mining projects that aimed at helping to set national operating as well as licensing guidelines when it came to extraction of the rare earths.

Lynas, from Australia, which is the largest rare earths producer in the world outside China, has inked a deal in May 2025 with Kelantan, an eastern state of Malaysia, for a future supply when it comes to mixed rare earths carbonate, which is indeed seen as an effort to develop the local industry.

A refinery that is going to handle both types

It is worth noting that the proposed refinery is anticipated to process both light and heavy rare earths, two of the Malaysian sources said. These elements happen to be quite critical to the manufacturing of products, right from cars and mobile phones to even military equipment.

Apparently, heavy rare earths metals, which are used widely when it comes to the development of clean technology, happen to be less common, and some elements face shortages due to high demand.

It was in August 2025 that Malaysia’s minister for natural resources, Johari Abdul Ghani, remarked that China was prepared to offer technical as well as technological assistance when it came to process rare earths.

But President Xi Jinping had asked to limit the cooperation efforts to the state-linked companies in order to protect the trade secrets, the minister said, adding that discussions still happen to be in the preliminary stages and that no deal had been reached.

A successful deal is indeed going to make Malaysia one of the very few countries in the world with both Chinese as well as non-Chinese rare earths processing tech, said the minister.

It is well to be noted that for South Africa, the implications happen to be quite profound. By way of Mining Rules Reforms in South Africa and, at the same time, streamlining licensing, the South African government is reducing the entry barriers for local as well as foreign investors.

The extensive mineral reserves of the country, which are mostly platinum, coal, manganese, iron ore, and also increasingly battery minerals, have gone on to become more attractive when they get teamed with a regulatory framework that’s efficient. Simultaneously, the privatization when it comes to rail and port infrastructure happens to address one of the greatest bottlenecks in the sector – and that’s the inefficiencies as far as the state-run logistics are concerned. The probability of enhanced capacity in 2025–2026 happens to signal not just smoother exports but, at the same time, more competitive standing when it comes to the global commodities market.

When it comes to India, this means access to resources where there are more predictable conditions, while South Africa, on the other hand, benefits from the new capital inflows, job creation, and technology transfer. Indian companies are looking at this as an opportunity where there are others who are hesitating.

It is well to be noted that these mining rules reforms in South Africa also sync well with the industrial needs of India. Rail and port privatization is anticipated to open novel avenues when it comes to Indian railway equipment manufacturers along with logistics providers. Beneficiation, which is the processing of raw minerals within the value-added products, goes on to create another fabric of opportunity. The push by South Korea to keep more and more of its mineral value chain domestic also helps India’s strengths when it comes to steel and ferro alloys as well as secondary manufacturing.

Interestingly, as there are larger global players who withdraw from the high cost of operations, nimble Indian businesses happen to be stepping in, sustaining the operations and, at the same time, making sure of continuity in terms of local employment. Besides, the partnership is not only about capital, but it is also about skills transfer.

Notably, South Africa, because of its young workforce but too short of skill, can take advantage of expertise in mining, engineering, and IT services, which India possesses.

In return for this, India gains a strong foothold across the most industrialized economy in South Africa, therefore leveraging South Africa as a sort of launchpad when it comes to wider continental engagements.

Historical Context – Right from Maritime Trade to Strategic Collaboration

The deepening economic ties cannot be cut off from history. India and South Africa happen to share centuries of connection throughout the Indian Ocean. Right from the 16th century, the maritime trade went on to connect Indian textiles and spices to ivory and other commodities from South Africa. When we talk of the 19th century, British colonialism brought more than 140,000 indentured laborers from India to the sugar plantations in South Africa by establishing a vibrant Indian community, which continues to shape the social fabric of the country. These ties go beyond and are also visible in the political arena. South Africa is where Mahatma Gandhi began his philosophy of Satyagraha, thereby making India a very early and vocal supporter when it came to the anti-apartheid struggle.

After 1994, as South Africa shifted to democracy, India was one of the first countries that formalized the relations under a 1997 strategic collaboration rooted in South–South cooperation. Today, this collaboration happens to go beyond the symbolic solidarity, stressing development and investment as well as joint responses to challenges that are faced globally.

Continental implications Go ahead and drive global comparisons

Apparently, South Africa’s reforms have had a ripple effect all throughout the continent. Through tackling infrastructure inefficiencies and by liberalizing the mining, the country has set standards for the largest mineral economies of South Africa. For countries such as the Democratic Republic of Congo, Zambia, and Guinea, where there are logistical hurdles that stifle competitiveness, the model of South Africa goes on to demonstrate how public-private partnerships can actually go ahead and unlock the value. Enhanced port as well as rail systems also go on to benefit the neighboring states since South Africa is known as a major export gateway when it comes to landlocked economies like Botswana, Zimbabwe, and Lesotho. Comparatively, while there are many African countries that depend quite heavily on state-owned enterprises in order to manage resources as well as infrastructure, the move by South Africa towards privatization and liberalization is in sync with the global best practices. Countries like Australia as well as Chile, both of which happen to be mining powerhouses, have for long attracted foreign investment through creating balanced, transparent frameworks along with efficient logistics.

The fact is that if South Africa goes on to sustain its present trajectory, it could very well go ahead and consolidate its position as the mining hub of Africa while at the same time boosting the share of the continent across worldwide value chains. When it comes to India, implications go far beyond South Africa.

Success over here would cement an India–Africa economic corridor that rivals the long-standing dominance of China. The fact is that as global supply chains go on to diversify and the West looks for alternatives to China, the resources of Africa teamed with the industrial base of India would very well create a mutually reinforcing partnership.

South Africa being a continental standard-bearer

South Africa’s decision to reform its own mining sector and at the same time go ahead and privatize infrastructure can be seen as more than just a domestic policy shift – it is a signal to the world that Africa is up and running to compete on the modern terms. Through attracting Indian businesses, South Africa is not just unlocking the investment, but it is, at the same time, strengthening its historical ties and making sure that those skills, along with technology, make their way into its economy. The fact is that the wider African continent stands to gain from the example with reforms that go on to address the bottlenecks, give priority to beneficiation, and also invite private-sector partnerships, which can reposition Africa to be a central player when it comes to the 21st-century global economy. In the middle of this dynamic, the country has gone on to become more than just a mineral exporter. It has emerged as a major continental standard-bearer, therefore showing how Africa can make utmost use of its resources, modernize the infrastructure, and at the same time deepen the partnerships that balance history along with future ambition.

BHP and MDP are reviewing opportunities to undertake research, pilot new ideas, and develop and deploy new emissions reduction technologies, BHP said.

The collaboration with Mitsubishi Development forms part of BHP’s global program of projects in China, Canada, the US and Australia to progress low emissions technology. This is in addition to the near-term and longer-term targets BHP has set for emissions reductions within the company’s global operations.

BHP Chief Executive Officer, Andrew Mackenzie, said the MoU marked the start of an important collaboration with one of BHP’s essential long-term industry partners.

“BHP is committed to accelerating the development of emerging technologies that have the potential to achieve material reductions in greenhouse gas emissions,” Mackenzie said.

“Our new collaboration with Mitsubishi Development demonstrates the important role the private sector can play in bringing these technologies to market.

“Both companies are committed to emissions reductions in a range of industries, including the steel industry.

“Our Japanese partners and customers are critical to the development of new technologies and approaches to emissions reductions that stand to benefit countries across the globe.”

Mitsubishi Development Managing Director and CEO, Sadahiko Haneji, said the MoU is an important initiative for a company engaging in mineral resource activities in Australia, such as Mitsubishi Development Pty Ltd (MDP).

“Mitsubishi Corporation Group, and therefore MDP, is committed to simultaneously generating economic value, environmental value, and societal value through all business activities it conducts,” Haneji said.

“In line with this principle and guided by commitment to corporate social responsibility as well as global climate targets, MDP is enhancing its efforts to generate further environmental value, to help society transition to a low-carbon future.

“We are confident that this partnership with BHP will help us to achieve our goal, as well as contribute to the sustainable future of our local and global communities.”

Mackenzie said: “At BHP, we work with customers, suppliers and parties along our value chain to influence emissions reductions across the full life-cycle of our products.

“As well as investments in emerging technologies, we set greenhouse gas emissions reduction targets for our operations, we build the resilience of our operations and communities to the physical impacts of climate change, and we work across sectors to strengthen the global policy and market response.”

Examples of BHP’s low emissions technology investments include:

• Trials of light electric vehicles powered by lithium-ion batteries in BHP’s Olympic Dam underground fleet of light vehicles;
  Participation in the Lakeland Battery Storage and Solar project featuring a 13 MW solar PV installation with storage of 5 MWhr in regional Queensland, Australia;
• A $7.37 million three-year partnership with Peking University to identify barriers to Carbon Capture and Storage (CCS) deployment in the industrial sector, with a focus on the iron and steel industries, and;
  Around C$20 million ($15 million) to establish the SaskPower CCS Knowledge Centre at the Boundary Dam project in Saskatchewan, Canada, the world’s first commercial-scale CCS process on a coal-fired power plant.
• BHP already has an existing partnership with MDP in the form of the BHP Mitsubishi Alliance (BMA), Australia’s largest coal producer and supplier of seaborne metallurgical coal. BMA, owned 50:50 by the partners, operates seven Bowen Basin mines, in Queensland (Caval Ridge pictured), and owns and operates the Hay Point Coal Terminal, near Mackay.