Has Japan considered any technological cooperation with China in the extraction of rare earth resources?
AH: You may already know that the budget has been increased to 100 billion yen, and that the proposal is still being assessed by the Diet. We believe it’s very important to work with China. As a matter of fact, Japan has had 18 conferences on rare earth with relevant Chinese authorities and enterprises since 1988, and we’re looking forward to the next conference to improve our communication on this issue. 21CBH: Prices of rare earth minerals have been climbing since the beginning of 2010. Japan has been stockpiling rare earth reserves since the 1980s and 1990s by burying those reserves under the sea. Some analysts believe that what Japan lacks is not rare earth, but inexpensive rare earth. How do you look at it? AH: First of all, Japan is not stockpiling rare earth reserves. And our import volume from China since the 1980s has been strictly in line with our demand. What I know is that Japan has little rare earth reserves in hand now, and if it doesn’t import [sufficient amounts] in tim
