Japan and Saudi Arabia are expected to agree on joint investments to develop rare-earth resources as the Asian nation attempts to reduce its reliance on China, according to Nikkei Asia. 

A deal is expected to soon be signed by Japan’s Ministry of Economy, Trade and Industry, the Japan Organization for Metals and Energy Security (JOGMEC) and Saudi Arabia’s Ministry of Industry and Mineral Resources that will see Japan and Saudi Arabia explore resource development projects in other countries for joint investment.

As part of its national strategy, Saudi Arabia has begun searching for new rare-earth mineral deposits. Under the deal, JOGMEC is expected to assist Saudi Arabia in conducting preliminary mineral deposit surveys. Japan will also help Saudi Arabia further develop resources already being mined in the country, such as copper, iron and zinc.

Saudi Arabia also recently said it is committed to securing oil supplies for Japan while continuing to cooperate with the country on clean hydrogen, ammonia and recycled carbon fuels, according to Reuters. In a statement, the kingdom said it would continue to supply oil reserves in southern Japan.

"We continue to guarantee oil supply to Japan and maintain our position as the most reliable partner," said Prince Abdulaziz bin Salman. "Saudi is Japan's biggest oil exporter, fulfilling 40% of its total needs."