"Resource-poor Japan is now revving up its drive to secure rare metals, which are used in a wide range of high-technology products, including digital home appliances, high-grade steel, and hybrid and fuel cell cars.

Highly alarmed by soaring prices on robust global demand and amid increased export restrictions by some producing countries, the Ministry of Economy, Trade and Industry (METI) mapped out a new comprehensive strategy recently for ensuring stable supplies of rare metals, especially tungsten, cobalt, vanadium, molybdenum, indium, platinum and rare earth, in the medium and long terms."