Japan ‘rare earth’ haul sparks hopes of cutting China reliance » Manila Bulletin News

Manila Bulletin Philippines

Breaking News from the Nation's leading newspaper

Tempo

Online Newspaper

Showbiz and Celebrity News

Sports News

World News
News Asia

Japan ‘rare earth’ haul sparks hopes of cutting China reliance

Published

By Agence France-Presse

The discovery of potentially millions of tons of valuable “rare earth” elements in sea sludge off Japan has raised hopes that Asia’s number-two economy can reduce its dependence on Chinese supply.

Rare earths are used in the production of a wide variety of high-tech items including mobile phone displays. (AFP photo)

Rare earths are used in the production of a wide variety of high-tech items including mobile phone displays. (AFP photo)

But experts warn that extracting the minerals — used in technology ranging from mobile phones to electric vehicles — is both costly and difficult, especially when buried miles deep in the ocean.

A Japanese study published last week revealed an estimated 16 million tons of rare earths, enough to feed global demand on a “semi-infinite” basis, with deposits to last hundreds of years.

The news made headlines internationally and in Japan, which is the world’s second-largest consumer of these minerals but relies heavily on imports from China, which controls 90 percent of the highly strategic market.

China extracted around 150,000 tons of rare earths in 2016, according to experts, but has in the past restricted the supply amid political tensions.

For this reason, “Japan is looking for several ways of freeing itself from any dependence on Chinese supply,” said Gaetan Lefebvre, an expert at the French Geological Survey.

Japanese firms are working on recycling products containing rare earths to re-use the elements, developing technology without rare earths and investing in foreign mining projects in exchange for the minerals.

And Japan is not alone in trying to diversify away from risky China — there are currently 38 projects outside China at various stages of development, according to Adamas Intelligence, a metal and minerals research firm.

In addition to wanting to cut reliance on China, the price of rare earths is rising due to a Chinese crackdown on illegal mining and surging demand for electric vehicles.

‘Resource security’

The study’s author, Yutaro Takaya from Tokyo’s Waseda University, says his team hopes to develop ways to extract the prized elements within five years.

“We are not talking about some dream technology of the distant future. We are conducting studies to make this possible,” he told AFP.

The recent find “should contribute to the ‘resource security’ of Japan”, he said.

“It can also serve as a diplomatic card. Japan will be able to say, ‘if prices are made to go above this level, we can look to developing sea-bottom rare earths’,” added the researcher.

Related Posts