Reuters reports that as Tokyo seeks to reduce reliance on receiving rare metals from China, the Japanese government aims to cut rare earth usage by 10,000 tonnes per year within a few years, a trade ministry official said on Friday,
The market news is quoted as saying:
The official told reporters the government will spend 33.1 billion yen ($404.2 million) in subsidies to projects to reduce consumption of rare earths, for which Japan relies heavily on imports from China.
“Attention investors: China is tightening its grips on the rare earth industry forcing plant closures on illegal mining. Find out how to take advantage of this trend.”
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