InfoAnda - Japan confirms China rare earth shipments resumed

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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World Japan confirms China rare earth shipments resumed AFP - Wednesday, November 24 Send IM Story Print Japan confirms China rare earth shipments resumed Slideshow: Full Photo Coverage: Business & Economy TOKYO (AFP) - – Japan's trade minister on Wednesday confirmed China had resumed rare earth shipments to the country, about two months after Tokyo said exports were being held up by a territorial row. Economy, Trade and Industry Minister Akihiro Ohata told a news conference that the Japanese government had confirmed the departure of two ships carrying rare earth minerals from China. While further details were not available, "we hope that other shipments will depart as soon as inspections are complete," Ohata said. Rare earth minerals are used in everything from guided missiles to flat screen televisions and cars, and Japan's high-tech industry is the world's largest user. China, which has a near-global monopoly on the minerals, has denied any embargo on shipments to Japan amid the territorial dispute, which has since shown signs of thawing. Last week Japan's Economy, Trade and Industry Ministry said 16 out of 27 surveyed companies that procure rare earths from China had reported "signs of improvement" such as actual loading on ships and faster customs clearance. Tokyo's row with Beijing stems from the arrest of a Chinese trawler captain whose vessel collided with Japanese patrol boats in waters near a disputed island chain in the East China Sea in September. Prosecutors released the captain after Beijing cut political, economic and cultural exchanges, but the dispute continued to simmer and nationalists in both countries have staged protests. Since 2006, China has cut export quotas on rare earths by five to 10 percent a year. Production has also been slashed amid concerns that Chinese supplies could run out in 15 years. China's restrictions on exports have spurred other countries such as the United States and Australia -- which have 15 and five percent of reserves respectively -- to resume production. Recommend Send IM Story Print Related Articles US-BUSINESS Summary Reuters - 29 minutes ago Jobless claims at 2-year low and spending rises Reuters - 29 minutes ago FACTBOX-Major nations' plans for slowing climate change Reuters - 36 minutes ago Azerbaijan: Umid gas reserves 2nd only to Shah Deniz Reuters - 38 minutes ago Euro pares gains after U.S. economic data Reuters - 39 minutes ago News Search Top Stories Greenhouse gases 'rise to record levels in 2009' Madoff trustee seeks $2 bln in UBS fraud case US unemployment claims fall dramatically Eurozone crisis accelerates in Portugal, Spain and Ireland British economy grows 0.8% in third quarter More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended DiCaprio in plane engine scare: report 'Naked' airport scanners may be 'dangerous' US, S.Korea plan war games after N.Korean attack Tigers 'close to catastrophe': Russian PM Britain's Prince William to wed in April at abbey More Most Viewed » 'Naked' airport scanners may be 'dangerous' EU fines 11 airlines 800 million euros for air cargo cartel Pilgrims stone 'devil' as Muslims celebrate Eid World leaders scramble for funds to save the tiger More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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