Tokyo, June 11 (Jiji Press)–Shin-Etsu Chemical Co. plans to build a new rare earth factory in Fukui Prefecture, central Japan, in order to increase domestic supplies, thereby helping reduce the country’s heavy reliance on imports from China, it was learned Thursday. The Japanse firm is expected to invest at least 35 billion yen in the new plant, with 17.5 billion yen of the total to be covered with government subsidies. Shin-Etsu Chemical currently smelts rare earths and manufactures magnets using such materials at its plant in the city of Echizen in the prefecture, boasting top-level production capacity in Japan. Its products are used in a wide range of products, including electric vehicles and hard disk drives. An official of Shin-Etsu Chemical declined to comment on details of the planned new factory, such as when it will start operations and products to be manufactured at the facility. The Japan Organization for Metals and Energy Security, or JOGMEC, an affiliate of the industry ministry, has selected the company’s new factory plan as a project eligible for its fiscal 2026 subsidy program for important minerals. END [Copyright The Jiji Press, Ltd.]
Shin-Etsu Chemical to Build New Rare Earth Plant
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