apan, Mongolia agree to cooperate in rare earth metal development+

J
TOKYO, Oct. 2 Kyodo -
Prime Minister Naoto Kan on Saturday agreed with Mongolian Prime Minister
Sukhbaatar Batbold to cooperate in promoting development projects of rare earth
mineral mines in Mongolia, Japanese officials said.
''Mongolia has high potential in mineral material development and this will
serve the two countries' national interests,'' Kan was quoted as saying at a
meeting with his Mongolian counterpart.
Batbold said Mongolia will be able to produce value-added products by
introducing Japan's advanced technology, according to the officials.
Senior officials from major Japanese trading houses and other Japanese firms
also joined the meeting.
Batbold is visiting Tokyo to attend Sunday's retirement ceremony for Mongolian
former yokozuna Asashoryu, who left sumo in February.
The agreement came a day after Japan unveiled a set of policies to secure rare
earth minerals that include studying stockpiling and diversifying supply
sources away from China.
Rare earth metal imports from China had stalled following maritime collisions
in September involving a Chinese fishing boat and Japan Coast Guard patrol
boats near disputed islets, which heightened bilateral tensions.
Kan last met with Batbold in late September in New York on the sidelines of
U.N. General Assembly meetings.
Rare earths consist of 17 elements such as neodymium, dysprosium and cerium,
and are used in the production of high-tech products such as cellphones,
digital cameras, flat-panel televisions and hybrid vehicles.
China accounts for about 97 percent of the world's rare earth supply and Japan
is almost 90 percent dependent on China, according to the Ministry of Economy,
Trade and Industry.
An industry ministry official has said there are rare earth reserves in
countries such as Kazakhstan and Vietnam, and Tokyo will try to acquire stakes
in mines outside of China to ensure supply.
==Kyodo
2010-10-03 01:08:52