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Saturday, December 26, 2009

China's Rare Earth Update

Another article - Earth-Friendly Elements, Mined Destructively - NY Times.

Key Points from the Article:
  1. The mining of these rare elements is dominated by criminal gangs in China.
  2. China has the majority of mines for these rare elements.
  3. The rare elements are key for green technologies.
  4. China is attempting to restrict the exports of these rare minerals to increase their industrial exports (4 steep cuts in 4 years, this year was 12%).
  5. The mining destructive for the local environment.
  6. Up to half of the rare earth exports from China are smuggle out.
  7. It will take years for Western Suppliers of rare earths to get into production.

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