Mongolia to Increase Rare-Earth Exports to Japan

3 October 2010 (Last Updated October 3rd, 2010 18:30)

Japan, the world's biggest importer of rare earths, plans to buy more of the minerals from Mongolia to reduce dependence on China, according to local newspaper reports. The country gets 90% of its rare-earth supply from China and wants to reduce its dependency to 70%. China impos

Japan, the world's biggest importer of rare earths, plans to buy more of the minerals from Mongolia to reduce dependence on China, according to local newspaper reports.

The country gets 90% of its rare-earth supply from China and wants to reduce its dependency to 70%.

China imposed a de facto ban on mineral exports to Japan in September as relations between the two nations soured over the detention of a Chinese captain whose vessel collided with two Japanese Coast Guard ships in disputed waters, reports Bloomberg.

Japan accounts for 65% of Chinese rare-earth exports, according to estimates.