Exert from proactive investors...

Exert from proactive investors 6/10/10
http://www.proactiveinvestors.com.au/companies/news/10552/chinas-unofficial-rare-earth-elements-embargo-of-japan-may-ignite-global-ree-fire-10552.html

Major Japanese companies, such as Toyota, are seeking to diversify their REE sources. Toshiba and Sumitomo have launched rare earth joint ventures in Kazakhstan over the past year.

South Korea's Ministry of Knowledge Economy says the government plans to spend $15 million by 2016 as part of a long-term plan that wants to secure 1,200 tonnes in rare earth reserves. South Korea's REE policy plans are expected to be finalized in mid-October.

Mongolia may prove an alternative to loosen China's stranglehold on rare earth elements. The Japanese newspaper Asahi Shimbun reported Monday that Japanese Prime Minister Naoto Kan and visiting Mongolian Prime Minister Sukhbaatar Batbold agreed to begin investigations this month into large REE deposits thought to be in Mongolia.

Their meeting was also attended by senior executives from leading Japanese trading houses. Kan said, "To develop Mongolia's high potential for mineral resources will meet the national interests of both countries.

DYOR