S. Korea Boosts Rare-Earth Stockpile Target as Prices Gain
This article is for subscribers only.
South Korea, which meets all its rare-earth demand through imports, has expanded and accelerated a plan to stockpile the raw materials and may develop local and overseas deposits, intensifying a global race for supplies.
The government aims to raise reserves to 1,500 metric tons by 2014, compared with an earlier plan to hold 1,200 tons by 2016, the Ministry of Knowledge Economy said in a statement today. South Korea, which currently doesn’t mine any rare earths on its territory, will continue to look for investments in other countries including Australia and Mongolia, the statement said.