Kyodo News reported today that the Japanese government has recently decided to cooperate with Vietnam to develop rare earth resources in order to get rid of the excessive dependence of rare earth imports on China. At present, more than 90% of the rare earth supply in the global market comes from China, and almost all the rare earths needed for Japanese high-tech electronics and hybrid vehicles are imported from China.
Kyodo News said that it is expected that the two sides will reach an agreement on this at the Japan-Vietnam summit held in Hanoi on the 31st of this month. The Nihon Keizai Shimbun reported that Japan will provide exploration, mining and smelting technologies and equipment for Vietnam, and the rare earths produced will be mainly supplied to Japan.
Northern Vietnam is believed to contain rare earth resources. Japan’s economic industry, Daisuke Zhang, said after the cabinet meeting on the 22nd: “Vietnam is a very promising place and strongly hopes to develop together.â€
A Japanese government official warned on Thursday that the total amount of rare earths in Japan's domestic reserves can only last until the end of March next year. If it is impossible to import more rare earths from China before then, Japan's high-tech industry will face a "grain shortage."
It is understood that Japanese Prime Minister Naoto Kan will attend the East Asian leaders’ meeting in Hanoi on the 28th and then pay an official visit to Vietnam. It is expected that the leaders of the two countries will sign several cooperation agreements after the meeting on the 31st.
Kyodo News said that it is expected that the two sides will reach an agreement on this at the Japan-Vietnam summit held in Hanoi on the 31st of this month. The Nihon Keizai Shimbun reported that Japan will provide exploration, mining and smelting technologies and equipment for Vietnam, and the rare earths produced will be mainly supplied to Japan.
Northern Vietnam is believed to contain rare earth resources. Japan’s economic industry, Daisuke Zhang, said after the cabinet meeting on the 22nd: “Vietnam is a very promising place and strongly hopes to develop together.â€
A Japanese government official warned on Thursday that the total amount of rare earths in Japan's domestic reserves can only last until the end of March next year. If it is impossible to import more rare earths from China before then, Japan's high-tech industry will face a "grain shortage."
It is understood that Japanese Prime Minister Naoto Kan will attend the East Asian leaders’ meeting in Hanoi on the 28th and then pay an official visit to Vietnam. It is expected that the leaders of the two countries will sign several cooperation agreements after the meeting on the 31st.
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