Toshiba to Source Rare Earth in Mongolia
Toshiba has signed a Memorandum of Understanding with Mongolia to talk about co-development of Mongolia’s mineral resources, including uranium, rare earth and rare metals.
Earlier this month China, which controls some 97% of rare earth production, stopped rare earth exports to Japan.
China has also reduced rare earth exports generally by 40% in 2010, and the US government is considering moves to re-open rare earth mining and production ii the US.
Last week Japan’s prime minister Naoto Kan, met the Mongolian president Tsakhiagiin Elbegdorj, and they agreed to build a strategic partnership and to secure mutually beneficial cooperation in developing mineral resources in Mongolia.
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