 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Tokyo (AFP) Dec 9, 2010 Japanese trading house Toyota Tsusho will build a plant for processing rare earth minerals in India, the company said, as Japan scrambles to diversify supply sources beyond dominant producer China. Toyota Tsusho, a trading house procuring for auto giant Toyota Motor, said Wednesday the company and its local subsidiary will "construct a manufacturing plant for processing rare earth oxides in the State of Orissa in India." The plant, pursued by the trading house "in order to secure supply sources outside of China", is expected to secure Japan up to 4,000 tons a year of the precious minerals starting 2012. The deal came after Japanese Prime Minister Naoto Kan and his Indian counterpart Manmohan Singh agreed in October to cooperate on nuclear energy technology and in the development and reuse of rare earth materials. Rare earth minerals are used in everything from guided missiles to flat screen televisions and cars, and Japan's high-tech industries are the world's largest user. Japan has depended on China for more than 90 percent of its rare earths supply, making its high-tech industry vulnerable to Beijing's efforts to cut export quotas. Since 2006, China has cut export quotas on rare earths by five to 10 percent a year. Production has also been slashed amid concerns that Chinese supplies could run out in 15 years. Tokyo also said China suspended shipments of the materials to the island nation over a territorial row earlier this year. Ties between Tokyo and Beijing sharply deteriorated following Japan's September arrest of a Chinese fishing boat captain near a disputed island chain in the East China Sea. The Toyota Tsusho move follows hot on the heels of a strategic alliance formed between Japanese trading house Sojitz and Australian mining firm Lynas, aiming at a 10-year deal that would supply Japan more than 9,000 tons of rare earths per year. Officials say this would satisfy more than 30 percent of Japanese demand if the deal went ahead. Japan has also reached a deal with Vietnam to share its nuclear energy and infrastructure-building technologies while jointly developing rare earth minerals in the Southeast Asian country.
Share This Article With Planet Earth
Related Links Global Trade News
Chase for India's rural rupee inspires tech innovationsNew Delhi (AFP) Dec 7, 2010 India's hunger for new technology is as sharp in its countless small villages as in its shiny office towers or shopping malls - and businesses are waking up to an area of massive potential growth. Specific designs being aimed at Indian villagers include a mobile phone cash-transfer system, robust low-energy refrigerators and a clever twist on the humble kitchen stove. Household cook Shi ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook
