Australia Wants To Be Stable Supplier of Rare Earths To Japan-Minister
2010-11-23 16:57:32 【Print】
Australia's Foreign Minister Kevin Rudd on Tuesday pledged to be a long-term supplier of rare earths metals to Japan, amid growing supply worries surrounding China, the world's biggest producer of the metals.
"Australia stands ready to be a long-term, secure, reliable supplier of rare earths to the Japanese economy," Rudd told reporters following meetings with Japan's Foreign Minister Seiji Maehara in Canberra.
China produces about 97% of the world's supply of rare earth elements, having priced out producers in other nations like the U.S. and Australia in the past two decades.
Chinese officials are signaling greater efforts to tie the export of rare earth metals to tougher environmental standards. That is forcing big consumers like Japan to scramble to find alternative supplies of the metals, which are used in an increasing range of electronic gadgets, electric cars, wind turbines and military equipment.
Japan is the world's largest user of rare earths outside China.
Last year, Canberra blocked plans by China Non-Ferrous Metal Mining (Group) Co. to invest A$252 million in Lynas Corp.，an Australian miner of rare-earth metals.
"Australia stands ready to be a long-term, secure, reliable supplier of rare earths to the Japanese economy," Rudd told reporters following meetings with Japan's Foreign Minister Seiji Maehara in Canberra.
China produces about 97% of the world's supply of rare earth elements, having priced out producers in other nations like the U.S. and Australia in the past two decades.
Chinese officials are signaling greater efforts to tie the export of rare earth metals to tougher environmental standards. That is forcing big consumers like Japan to scramble to find alternative supplies of the metals, which are used in an increasing range of electronic gadgets, electric cars, wind turbines and military equipment.
Japan is the world's largest user of rare earths outside China.
Last year, Canberra blocked plans by China Non-Ferrous Metal Mining (Group) Co. to invest A$252 million in Lynas Corp.，an Australian miner of rare-earth metals.
