Reports of a signed agreement of cooperation in the rare earth industry are "seriously fraudulent," said an official in charge of the Chinese People's Association for Friendship with Foreign Countries in
There had been no mention of rare earth cooperation in the talks between representatives of the association and the Japan-China Friendship Association of Okinawa Prefecture during their visit to
A Japanese news agency report, datelined Jan 29, quoted sources familiar with the matter as saying that "the two groups signed a mutual exchange agreement ... under which they have confirmed that they will cooperate in businesses using rare earths."
"Expectations that the agreement will lead to the stable supply of the minerals, which are key to high-tech industries, are likely to grow in the Japanese industry," the report said.
The Chinese official said his association has serious concerns about its counterpart in
Rare earth metals are vital components for manufacturing an array of sophisticated products, including cell phones, wind turbines, electric car batteries and missiles.