METI to Support Additional Equity Metals for Japan

Agency for Natural Resources and Energy’s director Yuuko Yasunaga of mineral and natural resources division said to a reporter of Japan Metal Bulletin the agency tries to secure required metal resources for Japanese industry. He said the agency of Ministry of Economy, Trade and Industry will support Japanese metal industry while the ministry seeks closer cooperation with Japanese companies.

Mr. Yasunaga said the government decided financial support for Caserones copper mining project in July 2010 under the government’s target of 80% of equity metal for base metals and 50% of equity metals for rare metals by 2030. He said with the various projects by Japanese companies, Japanese equity copper will be around 80% of the consumption. He expects Japanese companies will diversify the sources to Canada, Australia, Fiji and Cambodia along with the scale up.

Mr. Yasunaga said Japan should diversify rare earth sources to Vietnam, India, Kazakhstan and Australia for stable procurement. He said Japan should seek heavy rare earth resources, which is mainly produced in southern part of China, while Japanese companies started the activity to get light rare earth.

Mr. Yasunaga said Japan Oil, Gas and Metals National Corporation (JOGMEC) contributed to Japanese integrated steel makers’ participation in world top niobium producer of Companhia Brasileira de Metalurgia e Mineracao (CBMM) of Brazil. He expects JOGMEC can support Japanese industry to get equity of resources including rare metal and rare earth.

Mr. Yasunaga said METI also seeks resource in Africa. He said the government supports industrialization and education and other life lines along with infrastructure construction while the government tries to secure the resources with cooperation with Japanese companies.