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India and Japan sign deal for production and export of rare earths

12:03 AM MST | November 20, 2012 | Deepti Ramesh

Japan’s Ministry of Economy, Trade, and Industry (METI; Tokyo) says it has signed an intergovernmental memorandum with India on 16 November for the joint production and export of rare earths by companies of both countries. As part of this agreement, state-owned Indian Rare Earths Ltd. (Mumbai) and Toyota Tsusho Corp. (Nagoya, Japan) will establish a joint venture company to jointly produce and export rare earths, METI says. The two companies are expected to sign a detailed contract and commence the production and export of rare earths in early 2013, METI...

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