|India, Japan Agree on Rare Earths Deal|
|by Tom McGregor||Thu, Aug 28, 2014, 12:18 AM|
New Delhi and Tokyo have signed off on a major rare earths deal.
According to Channel NewAsia, "Tokyo and New Delhi will next week sign an agreement that will see around 2,000 tonnes of rare earths imported from India, a report said Thursday (Aug 28), as Japan looks to diversify supply away from China. Japanese Prime Minister Shinzo Abe and his Indian counterpart Narendra Modi are expected to agree on the deal at their summit in Tokyo on Monday, the Nikkei newspaper reported."
Nevertheless, China accounts for 95 percent of all rare earths production.
As reported by Channel NewsAsia, "Some 2,000 to 2,300 tonnes of rare earths - roughly 15 per cent of what Japan's manufacturers use each year - will be shipped from India to Japan, it said, adding that imports will start as early as February."
India will begin shipments of rare earths to Japan as early as February next year.
To read the entire article from Channel NewsAsia, link here:
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