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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"News provided by Monet Investment Bank"

By author: admin - Dec 01, 2010 / Categories: News