Wednesday, March 08, 2006

IT: South Korea to stockpile minor metals to safeguard IT industry

South Korea's state-run resources agency, has said the country will stockpile strategic reserves of minor metals, which are crucial for making information technology (IT) goods and electronics, to avoid supply disturbances and price spikes.

Most of these minor metals are imported from China, Russia, South Africa and the Democratic Republic of Congo.

South Korea will spend 183 billion won ($0.18 billion) over a 10 year period to buy 14 minor metals, including indium, ferromolybdenum, cobalt, manganese, antimony, ferrotitanium and ferrotungsten.