Toyota forms non-Chinese rare earth supply partnership, task force

Toyota has created a rare earth task force and has developed several rare earth supply partnerships with non-Chinese companies.

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While the Chinese continue to claim that a rare earth metal ban has not been imposed against Japan, Toyota is taking no chances.

Toyota has set up a new rare earth metal task force, as well as a new supply partnership with Australian Lynas Corp.

Even before news of the potential Chinese export ban broke, Toyota was already making rare earth moves according to BusinessWeek.

“Toyota Tsusho Corp., a trading company affiliated with the carmaker, has formed a joint venture with Sojitz Corp. and a Vietnamese state-run mining company to export rare earth metals to Japan from 2012, spokesman Katsutoshi Yokoi said. The company acquired Tokyo-based rare earth metal importer Wako Bussan Co. in December 2008, which will import materials from India from next year, Yokoi said.”

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