JOGMEC to Purchase 5 National Stockpiling Rare Metals

Japan Oil, Gas and Metals National Corporation purchases rare metals for the state stockpiling by open tender, announced on Thursday. JOGMEC purchase cobalt, vanadium, molybdenum, indium and gallium, which are designated to national stockpiling metals. JOGMEC purchases indium and gallium for the first time as the stockpile after the metals were added to stockpiling items on July 2.

JOGMEC plans to purchase 130 tonnes of cobalt ingot, 319 tonnes of ferrovanadium and 60 tonnes of cooled oxide molybdenum ore. The corporation buys indium ingot with more than 99.99% purity and gallium ingot. The minimum offer should be one tonne for indium while 0.5 tonne for gallium.

JOGMEC plans to stock rare metals at 42 days domestic consumption. However, current stockpile is 22 days for cobalt, 19 days for vanadium and 17 days for molybdenum. The corporation aims to stock indium and gallium for 42 days consumption.