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Japan to pour investment into non-China rare-earth projects

Feb.28 2020      Source:net

Keywords:rare-earth

 TOKYO -- The Japanese government will cooperate with the U.S. and Australia on investing in processing facilities for rare-earth metals, looking to ease reliance on imports from China.

  Rare earths are essential to such high-tech machinery as motors for electric vehicles. But Japan imports 58% of its supply from China, leaving it vulnerable to manipulation by Beijing. Tokyo plans to bring the Chinese share down to 50% or less by 2025.

  Tokyo is discussing a cooperation deal with the U.S. and Australia. Smelting facilities under construction in the U.S. state of Texas that will be operated by Australian rare-earths miner Lynas are a probable investment target. That site is scheduled to come online in the middle of the decade.

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