Shin-Etsu plans new rare-earth refinery to secure supply

AI Summary

Shin-Etsu is planning to build a third rare-earth refinery in Fukui Prefecture, Japan, to ensure stable supply of rare-earth products and magnets critical for high-tech industries. This expansion supports Japan's strategic resource security efforts amid global supply chain concerns.

The plant will be the company's third in Fukui Prefecture and will help "to ensure a stable supply of rare-earth-related products and magnets," a spokesperson for the firm said.