Japan, India ink rare-earth accord

[Abingdonboy]

Japan has signed a memorandum of understanding to enable the import of rare-earth minerals from India, a move that will help Tokyo to reduce its heavy reliance on China for the key resources used to manufacture high-tech products.

The signing ceremony took place Friday in Tokyo, although Indian Prime Minister Manmohan Singh postponed his planned visit to Japan because of Prime Minister Yoshihiko Noda's decision to call a general election next month.

"Our prime minister had to postpone his visit, but it was very important that we go ahead and sign this important document," Indian Ambassador to Japan Deepa Gopalan Wadhwa told Nobuhiko Sasaki, vice minister for international affairs at the trade ministry, prior to inking the deal.

Shipments of rare earths from India are expected to begin arriving in Japan as early as next spring, officials at the industry ministry said. With rare-earth production at full throttle, India could supply around 4,100 tons a year, equivalent to roughly 10 percent of Japan's peak annual demand.

The production and exports will be conducted by a joint venture between Toyota Tsusho Corp. and state-run Indian Rare Earths Ltd.

Japan imported around 90 percent of its rare-earth supplies from China last year, and is hoping to reduce its dependence because of the risk that Beijing might curb exports amid the Senkaku Islands rift

Japan, India ink rare-earth accord | The Japan Times Online

 

[Abhishek_]

thanks for sharing, although it should be in the economy thread

 

[madooxno9]

India's reserves are about 3.1 million metric tons, putting the country in fourth place after China, the U.S. and former Soviet countries, which have a collective 19 million metric tons, the U.S. Geological Survey says.

China has about 55 million metric tons of rare-earth reserves, or half of the global total, the U.S. Geological Survey estimates.

And yes 90% of Rare earth is exported from China, as China has sliced price and backbone of other exporters .

Though it's a goodwill sign from Japan and we must be happy as India always wanted customers for Rare earth.

And if i remember India got it's new rare earth plant up and running in Orrisa

India will find its way back on the global rare earth (RE) production map when its 10,000 tonnes Monazite processing plant in Odisha commences production.

 

[ahfatzia]

I think it's better to save the reserve for your own or your future generations uses and better manage your environment if you develop it slowly.

 

[Nan Yang]

India's reserves are about 3.1 million metric tons, putting the country in fourth place after China, the U.S. and former Soviet countries, which have a collective 19 million metric tons, the U.S. Geological Survey says.

China has about 55 million metric tons of rare-earth reserves, or half of the global total, the U.S. Geological Survey estimates.

And yes 90% of Rare earth is exported from China, as China has sliced price and backbone of other exporters .

Though it's a goodwill sign from Japan and we must be happy as India always wanted customers for Rare earth.

And if i remember India got it's new rare earth plant up and running in Orrisa

India will find its way back on the global rare earth (RE) production map when its 10,000 tonnes Monazite processing plant in Odisha commences production.

Beware of selling rare earth to Japan. Japan itself already have a large stockpile of rare earth. But keep buying from China and now from India. Not to use but to keep for the future.
India would be wise not to sell to Japan. Japan should use its own stockpile first.

 

[JayAtl]

Beware of selling rare earth to Japan. Japan itself already have a large stockpile of rare earth. But keep buying from China and now from India. Not to use but to keep for the future.
India would be wise not to sell to Japan. Japan should use its own stockpile first.

is that what your state propaganda media from China sent you in your Inbox to post around today?

 

[JayAtl]

I think it's better to save the reserve for your own or your future generations uses and better manage your environment if you develop it slowly.

you know that we( smart ones) see through the real agenda you have here? don't worry your market cap is still too huge to put much dent on it. Although , thanks to the way you guys guys piss off your major trade partners, the shift to India is inevitable.

 

[karan21]

Good decision by India to fill the gap.

 

[navtrek]

you know that we( smart ones) see through the real agenda you have here? don't worry your market cap is still too huge to put much dent on it. Although , thanks to the way you guys guys piss off your major trade partners, the shift to India is inevitable.

he was just giving his view which i don't think were bad. He made sense and its true. We should conserve our resources.

 

[JayAtl]

he was just giving his view which i don't think were bad. He made sense and its true. We should conserve our resources.

First , his views is a bias one because he is a Chinese fella and they don't like Japan. Second, Japan was buying it from them , but China -Japan island conflict and their attitude towards them in China is growing weary on the Japanese.

Japan is moving and trying to shift as much of it's trade with China to India for this very reason plus china blackmails them whenever there is a conflict. They withheld exporting of rare earth a few months ago to try and jack up prices - having 90% of the market gives them an huge advantage in playing such games/ blackmail...

Third, they have a 90% market share and see India as a potential threat . Fourth- what makes you think Indian govt is not taking into account what it needs vs. what it exports? Is there some solid evidence you have / he has that we don't know. To make such a broad based assumption?

 

[acetophenol]

I am sorry,but what are the rare earths we are talk'n about?

 

[Contrarian]

Beware of selling rare earth to Japan. Japan itself already have a large stockpile of rare earth. But keep buying from China and now from India. Not to use but to keep for the future.
India would be wise not to sell to Japan. Japan should use its own stockpile first.

is that what your state propaganda media from China sent you in your Inbox to post around today?

Nan Yang is right. Rare earths stockpile should have been kept had we been manufacturing chips. Unfortunately for us, we dont.

I am sorry,but what are the rare earths we are talk'n about?

Minerals which are necessarily required to make the processor chips - used from ipod to mobile to computers - Basically ever electronic gadget.

Japan and Taiwan's economy would take a massive hit if they were denied this. China produces >90% of the worlds Rare Earths.

 

[JayAtl]

Nan Yang is right. Rare earths stockpile should have been kept had we been manufacturing chips. Unfortunately for us, we dont.

This is how you sound. The earth is flat unfortunately everyone thinks it is round. There is no supporting data, evidence , hell even a remote sense of knowledge on the subject matter. rather- "Hey , he right because I think he is right in my gut and therefore he is right"

 

[BJP*]

Beware of selling rare earth to Japan. Japan itself already have a large stockpile of rare earth. But keep buying from China and now from India. Not to use but to keep for the future.
India would be wise not to sell to Japan. Japan should use its own stockpile first.

why do you believe they are stock piling them? how is it harmful to India if they stock pile rare earth metals?

 

[Contrarian]

This is how you sound. The earth is flat unfortunately everyone thinks it is round. There is no supporting data, evidence , hell even a remote sense of knowledge on the subject matter. rather- "Hey , he right because I think he is right in my gut and therefore he is right"

I meant that had we been using rare earths it would have been prudent for us to stockpile some as well. Considering rare earths is strategic for Japan, it doesnt take a 'gut feel' to know the obvious that after the shocks China gave Japan recently, they would start a stockpiling mechanism to tide over short periods of no supply.