METI Launches New Strategy to Stabilize Supply of Rare Metals

Ministry of Economy, Trade and Industry held ninth meeting for mining subcommittee of advisory committee on energy and natural resources on Wednesday for strategy to secure rare metals. METI tries to improve the activity for securement of offshore resource, recycling, development of alternate materials and stockpile. METI tries to improve the stable supply of indispensable materials of rare metal for high valued and high performance industrial products.

METI adds indium and gallium for strategic stockpile on 7 existing metals. METI secures 6 billion yen in fiscal 2009 for the additional stockpile. METI also expands stockpile for vanadium, cobalt, tungsten and molybdenum from averaged 19.5 days of consumption to 42 days. METI launches new 525 million yen of activity to research mining related infrastructure development.

METI also utilizes official development assistance in mining infrastructure to secure offshore resources. METI also improves relationship with resource rich countries through support in technology and environmental actions.

METI tries to establish recycling system for cell phone, digital camera and other devices to recover rare metals. METI tries to find solution for similar system in Asian region for stable supply of rare metals.