Japan to promote the rare earth supply security schemes to reduce dependence on China Rare Earth

It is reported that Japan is promoting a rare earth supply security plan, hope that within four years, at least 60 percent of domestic demand rely on rare earth supply outside China. Rare is an important raw material production of smart phones, computers and cars, the Japanese want to reduce dependence on rare earth supply China's largest producer.

Japan hopes the first of this month signed an agreement to purchase four light rare earths from India; also as a rare earth mine in Australia and the Australian Lynas plant in Malaysia established to provide the financing.

Japan plans to protect the rare earth supply also created a joint venture in Kazakhstan, recycling batteries and engine rare earth magnet, even in the Pacific seabed exploration of rare earth resources.

And India agreement will be able to meet 15% of demand in Japan. According to the Japanese demand and growth data provided a rare trader estimates, according to the agreement if Lynas can increase production to 2018 Japan is expected to meet the needs of more than 60% of rare earths by China outside.

China's rare earth production currently accounts for about 90 percent of global production. Japanese purchases of rare earth almost all directly or indirectly from China.


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