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METI to fund commodities M&AsThe industry ministry has decided to financially help companies looking to acquire foreign commodities firms so they can secure stable supplies of minerals, ore, rare metals and other resources, ministry sources said Saturday.The Ministry of Economy, Trade and Industry plans to request about ¥20 billion from the fiscal 2009 budget for the project from the Finance Ministry later this month, the sources said.The decision comes at a time when prices for natural resources are rising amid tightening supply in the global market as demand grows in such emerging economies as China and India.Japan relies on overseas imports for nearly all of its mineral npc28加拿大预测网官网 eeds, and obtaining stable supplies of such resources is one of its top policy priorities.A METI affiliate — Japan Oil, Gas and Metals National Corp. — has been extending low-interest loans to Japanese companies to help them finance the cost of purchasing development rights to overseas mines owned by producers of nonferrous metals, or to invest in their mine development. But the development rights for the more promising mines are already dominated by the major Australian and Brazilian mine developers, who have been dubbed the “resource majors.”To back Japanese firms’ efforts to acquire more development rights, METI decided to expand the scope of its financial support to include the acquisition of foreign companies that already hold such rights, the sources said.The ministry will also help Japanese firms enhance their exploitation technologies, since cooperation with overseas firms in exploring mines will be instrumental in securing stable supplies of natural resources, they added.TwitterFacebookLinkedInGET THE BEST OF THE JAPAN TIMESIN FIVE EASY PIECES WITH TAKE 5Mail the editorError ReportRepublishingCommenting PolicyJOIN THE CONVERSATIONLATEST BUSINESS STORIESWorkplace equality 'decades away' in Britain as men dominate top jobsEquality for women at work is decades away in Britain, according to a study released Monday that found just 6 percent of chief executives at leading companies are female, with representation in som...Tsai's election victory set to bolster Taiwan's buoyant marketsA winning run for Taiwan's financial markets is set to be reinforced by Saturday's landslide election victory for President Tsai Ing-wen.That's the view of market watchers and analysts, with th...Ex-drug company execs face reckoning in opioid bribery caseThe founder and former top employees of a pharmaceutical company are facing a reckoning for their role in a bribery scheme that prosecutors say boosted sales of a powerful, highly addictive painkil...

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