The Japanese government has revealed that it is to concentrate on securing platinum supply to keep up with demand from its automotive sector.

A senior official at government-run resources company, Japan Oil, Gas and Metals National Corporation (Jogmec), has stated that it has asked the government to allocate funds in 2007 to research platinum recycling technologies.

Speaking to Platts, he commented that the ministry of finance is currently reviewing Jogmec's request and it is hoped that this will be approved by the parliament early next year, in time to form part of the government's budget from April.

The official explained that increasingly tight emissions controls around the world have led to a jump in the demand for platinum, with 40 per cent of the country's consumption of the precious metal coming from the automotive industry.

However, he added that the Japanese government does not intend to stockpile its platinum, instead seeking to rely on recycling the available resources and developing overseas mines.

Ÿ Adfero Ltd