METI to Request 100B Yen for Rare Earth Menu on F2010 Supplementary Budget

Mr. Akihiro Ohata, Minister of Economy, Trade & Industry, explained at a press meeting on October 8 that the ministry will request approximately 100 billion yen on supplementary budget for fiscal 2010 ending in March 2011 in order to promote the ministry’s rare earth total provision menu which targets (1) diversification of offshore rare earth supply sources (2) rare earth recycle technology (3) development for alternate materials, and (4) national stockpile of rare earths.

The ministry will budget 12 billion yen for development of alternate materials and low rare earth consumption technology, 42 billion yen for development of more efficient rare earth usage and recycling technology, and 46 billion yen for raw material development and offshore equity acquisition.

Mr. Tsutomu Murasaki, Director of the ministry’s nonferrous metals division, showed an expectation the supplementary budget could contribute to, for example, earlier development of development for alternate materials and low rare metal consumption technology though the development project is presently carried on 3-year time schedule.

Mr. Murasaki referred to such development themes as less consumption of cerium for glass polishing, zinc oxide usage for display panels as alternate for indium, low consumption of cerium oxide for exhaust gas catalyst, or new material utilization for optical lens as alternate for lanthanum.