China tightens hold on rare earth exports, markets soar
If U own the flat screen TV, the hybrid, the PC, or any number of cell phones, chances R U own the small although (unless) very sought after piece of China. The country accounts 4 97% of the world’s rare earth production, & it recently announced plans to scale back exports by 10% in 2011. The move probably won’t`ve the big impact on the average consumer, although (unless) it’s certainly gained the lot of attention on the world market: the US threatened action in the World Trade Organization, stocks 4 rare earth min`g companies spiked significantly, & Sony Corp. vowed to decrease its dependence on the minerals. It’s not like the rest of the world`s lack`g 4 rare earth resources — American’s R actually sitt`g on 13 million metric tons of the stuff, which companies in the US & Canada R mak`g the made dash to mine. Trouble is, just gett`g the stuff out of the ground isn’t enough — China still`s the monopoly on rare earth process`g , & US companies R reluctant to spend the eight years & minimum $500 million necessary to construct the chemical separation plant. So what does all this mean 4 you? Well, not the whole lot, unless U happen to B China’s Minister of Commerce, in which case U`ldprobably stop surf`g the web & get back to work.
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