Is it timely? Japan's plan for a new rare earth refining plant unveiled
According to a report by Kyodo News on June 10: On the 10th, Shin-Etsu Chemical announced plans to build a new rare earth factory in Fukui Prefecture.
Fukui Prefecture's Echizen City already produces strong magnets used in electric vehicle motors from rare earth ores. The new project aims to increase production capacity, reduce "dependence on China," and strengthen Japan's domestic supply chain.
The specific location, investment amount, and start-up date of the new plant have not been disclosed. Rare earth elements are critical materials for various high-tech products and also used in defense applications.
Since last year's remarks by Takayama Sanae regarding "Taiwan being an issue," diplomatic relations between the two countries have deteriorated, and China is now moving to impose export restrictions on Japan. The Japanese government is urgently seeking to develop domestic supply networks.
The new factory may receive financial support from the Japanese government.
Original source: toutiao.com/article/1867654101643392/
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