Japan’s Sojitz Begins Importing Australian Rare Earths

Tokyo, Oct. 30 (Jiji Press)–Japanese major trading company Sojitz Corp. said Thursday it has begun importing heavy rare earths mined by its partner company in Australia. Sojitz plans to increase imports of heavy rare earths, used in electric vehicle motors, wind turbines and other components, to around 30 pct of Japan’s total domestic demand in the future. Sojitz’s initiative is expected to help diversify Japan’s rare earth supply chains, as the country currently relies heavily on imports from China. Sojitz’s partner, Lynas Rare Earths Ltd., will extract the rare earths and transport them to Malaysia for separation and refining. These products will be more expensive than those produced in China, where the entire rare earth production process is carried out domestically. Amid concerns that supplies of Chinese rare earth products may become unstable due to trade tensions between the United States and China, some demand for Australian products is expected, according to Sojitz. END [Copyright The Jiji Press, Ltd.]