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Sojitz and JOGMEC Deal with Australian Mining Group Secures Rare Earths Supplies to Japan

6:25 AM MDT | March 30, 2011 | Natasha Alperowicz

Sojitz Corporation (Tokyo) and Japan Oil, Gas and Metals National Corporation (Kawasaki) have concluded an agreement with the Australian rare earths group Lynas Corporation (Sydney), which will secure supplies of rare earths from Lynas' mine in Western Australia and from its separation and refining plant based in Malaysia. The Japanese firms will provide a total of $250 million in loans and equity and will in exchange receive a minimum of 8,500 m.t./year of rare earths for use in Japan over a period of 10 years, under the terms of the deal. This currently...

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