METI Launches New Metal Resource Policy

Ministry of Economy, Trade and Industry (METI) announced basic idea to revise existing natural resource and energy policy through the discussion of export panel for the minister. METI targets more than 50% of self-sufficiency of rare metals by 2030 through the effort including recycling when the ministry sets strategic rare metal items including rare earth, lithium and tungsten. METI expects the plan is authorized by the cabinet in May and the administration put the plan into the growth strategy.

The action program to 2030 includes 50% of Japanese captive fossil fuel interests for the requirement compared with current 26%. METI also improves the own energy ratio from 38% to 70%. The ministry tries to increase zero-emission power supply from 34% to 70%, to halve CO2 emission from consumers’ energy use and to increase next generation vehicle weight to 50%.

METI tries to improve the resource security and stable supply for metals in order to better national security and environmental condition. The ministry targets self-sufficiency at 80% for base metals and 50% for rare metals in 2030. METI recognizes rare metal supply is unstable due to limited source and supply trouble while the demand will increase. METI tries to focus the limited budget into strategic rare metal items while the ministry encourages alternative materials development, recycling system establishment and strategic inventory system. METI also watches supply condition of niobium, tantalum and platinum group metals with special interest.

METI also develops domestic resources including ocean resources. METI tries to establish new system for technology development to utilize methane hydrate, ocean floor hot water deposit and cobalt rich crust while the ministry encourages the exploration and development of ocean resources.