Strategic R&D Proposal for Deep-sea Mineral Resources

Metal market prices rose drastically in 2006, and most broke historical records as shown in Figs. 1-4. This increase has been basically driven by economic growth in Asian countries, especially China. The growth trend is expected to continue for several years. Then, India will follow the same growth trend. Their metal demands keep the price levels high for 20 years or more. One more additional important factor on the metal market prices is hedge funds come into the market. Japan imports all metals for domestic use from overseas. The amounts imported were 1.27 million tons in copper, 0.32 million tons in lead, 0.59 million tons in zinc, 0.20 million tons in nickel, and 1.18 million tons in manganese, respectively in 2006 (Source: http://www.jogmec.go.jp/j_resourse/index.html#03). Though mainly we import the concentrates and our domestic customer smelters take the part of metallurgical leaching, the payment necessary for purchasing the concentrates is estimated about US$ 10 billions in 2006. The payments in 2005 and in 2003 were about a half and a quarter of the 2006, respectively. Japan must have effective counter measures to reduce the future payments.