Newssummary: India, Japan Join to Counter China Rare Earth Monopoly

Published: May 20, 2015 17:48

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India’s state-owned Indian Rare Earths Ltd (IREL) and Japan’s Toyota Tsusho Corporation have struck a deal to jointly harness mixed rare earth chloride, the Indian Express reported.

SHANGHAI, May 20 (SMM) – India’s state-owned Indian Rare Earths Ltd (IREL) and Japan’s Toyota Tsusho Corporation have struck a deal to jointly harness mixed rare earth chloride, the Indian Express reported.

This bold move aims to challenge overwhelming dominance of China in the rare earth industry. The venture also marks India’s re-entry into rare earth production since 2004 when the country stopped production due to lack of market competitiveness, the media added.

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