METI to Support Rare Earth, Rare Metal Saving Projects

Ministry of Economy, Trade and Industry announced on Wednesday METI provides around 5 billion yen of subsidy for 49 items of attempts to reduce rare metal and rare earth consumption. METI solicits again for remaining 3.5 billion yen of subsidy budget for the policy in fiscal 2011.

METI focuses on dysprosium and neodymium for the subsidy when availability of the 2 items is especially severe due to limited supply sources. METI cooperates with around 20 domestic small motor makers for automobile to provide subsidy for magnet saving motor development projects.

The director nonferrous metals division Takeo Hoshino said domestic dysprosium consumption would decrease by around 200 tonnes in around 2 years, which represents 20-30% of domestic consumption, when the projects would succeed in targeted results.

METI also supports recycling project to recover rare earth from neodymium magnet from used appliances. Mitsubishi Materials manages the test project to recover rare earth through cooperation with magnet alloy maker, magnet maker and appliances maker.

METI expects the scheme can recover annual 13 tonnes of dysprosium and 69 tonnes of neodymium in fiscal 2015 ending March 2016. METI eyes additional items to recover depending on the waste volume.