Japan's Ministry of Economy, Trade and Industry has announced it is seeking to turn the country into a hub for global recycling, with the profits to be made on pgms and other precious metals potentially generating a lucrative trade.

Speaking to the Asahi Shimbun, an official with the ministry's Recycling Promotion Division explained how Japan could ultimately operate a pan-Asian network to boost recycling and create mineral-based wealth.

"If we make recycling a global industry, Japan could turn into a 'resource-rich country'," he said.

The Japanese government has hinted that it could begin a new project with China by the end of 2005 that would see the two countries accelerate plans for the recycling of so-called "e-waste".

This would see items such as computers, mobile hones or other tech-based goods scoured for any useful precious metals or other re-usable goods.

Already Japanese firms are seeking to develop their recovery operations, with Nippon PGM among those leading the way.

The firm recovers pgms from catalysts and other apparatus, with annual returns of about 14.9 billion yen worth of rare precious metals.