METI to Secure 24% Higher Budget to Secure Mineral Resources

Mineral and Natural Resources Division of Agency of Natural Resources and Energy, which is arm of Ministry of Economy, Trade and Industry, decided to seek 16.517 billion yen of budget including stable supply of mineral resources and development of ocean resources for fiscal 2010. The budget is 24.1% higher than the value in fiscal 2009 while Japanese government tries to reduce the total budget. The division tries to improve the resource policy when the ruling party of Democratic Party of Japan committed action for stable supply for rare metals along with new reuse system and better relationship with resource rich countries.

The division tries to secure 9.992 billion yen for stable supply of mineral resources in fiscal 2010, which is 0.5% lower than budget in fiscal 2009 while the budget for ocean resource development is flat at 6.525 billion yen. The division increases the budget for securing offshore resources, technology development for recycling and smelting and stockpile for rare metals while the division reduces the budget for development of alternate materials.

The division promotes the strategy to secure rare metal through strategic diplomacy, support for exploration, recycling, development alternate materials and stockpile. The division secures 3.3 billion yen for new devices for research to ocean resource development.