Japan Offers Rare-Earth Subsidies

Japan announced a 15.2 billion yen ($185.7 million) plan Friday to cut its reliancgold mining in malaysiae on imports of key Chinese rare earth metals by roughly a third, underling the government's efforts to protect its manufacturers from potential supply restrictions by Beijing.

Alarmed by a temporary—but sharp—cut in imports of rare-earth minerals from China late in 2010, the Japanese government has made it a national priority to make the economy less dependent on Chinese metals. China dominates the global market for the metals with a 97% share, and is Japan's biggest supplier. Such materials are considered crucial for Japan's export-led economy, as manufacturers use them to build some of the country's signature products, like hybrid cars and high-tech devices.