TOKYO -- As Japanese companies begin stepping away from rare metals due to slumping prices, China is beginning to boost its presence in the market.
State-owned Japan Oil, Gas and Metals National Corp., also known as JOGMEC, in December 2015 cancelled a joint exploration contract for a tungsten mine in Australia. China produces 80% of the global supply of tungsten, one of the raw material used in the manufacture of carbide tools.
