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Japan planning to aid rare metal-rich countries: Report

Japan planning to aid rare metal-rich countries: Report

Japan is planning to offer economic aid to countries rich in rare metal resources, with an eye on securing supplies of the materials used in environmentally friendly cars, a report said yesterday.
In the first of such deals, Japan is looking to offer hundreds of millions of U.S. dollars in loans as early as May to help build a 100-megawatt geothermal power plant in Bolivia, the business daily Nikkei reported, without citing sources. Japan will also study potential demand from countries in Africa and Asia for such aid, it said. About half of the world's lithium deposits are believed to be in Bolivia's Great Lake of Uyuni. Japan's government believes it necessary to offer comprehensive aid packages to win contracts with Bolivia to beat out competition from other countries such as France and Brazil, it said.
Lithium is used in manufacturing lithium-ion batteries used in electric cars. It is also used in pharmaceutical and fine-chemical industries as well as in the manufacturing of alloyed metals.


Updated : 2021-07-24 05:10 GMT+08:00