Akihiro Ohata, Minister of Economy, Trade & Industry, Japan attended the Diet’s Standing Committee on Thursday and referred to the possibility to diversify rare earth supply countries Vietnam, Kazakhstan, Mongolia, USA, Canada and South Africa. He revealed Japanese government is offering ODA (Official Development Assistance) against Vietnamese government to restart road construction between a rare earth mine in north Vietnam and a shipping quay as soon as possible. The rare earth mine is under development while the road construction is suspended.
As to the current matter that Japanese rare earth users’ inventories might seriously shorten in early 2011, Yoshikatsu Nakayama, Vice Minister explained Vietnam is expected to start material supply a year later but Japanese government should make efforts to cover a year when domestic rare earth inventory shortens with inefficient supply sources.Japan Steel Scrap Composite Prices (Sangyo Press)
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