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Concern as China clamps down on rare earth exports

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posted on Jan, 4 2010 @ 09:07 PM
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reply to post by silent thunder
 


My apologies for getting sidetracked.

Just to let you know - I was not trying to get into a "my country is better than yours". I was actually trying the exact opposite.

What a fool am I.

Now back to the original subject.




posted on Jan, 4 2010 @ 10:22 PM
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Coincidentally , the gubmn't down-under was uncomfortable with an attempt by state-owned China Nonferrous Metal Mining to assume a controlling stake in the Australian REE miner Lynas Corp.


China’s Threat Revives Race for Rare Minerals
September 25, 2009

In Australia, the government blocked a Chinese state-owned company on Thursday from acquiring a majority stake in a large mine being developed for these minerals, also called rare earths....

The developer of the largest rare-earths mine in Australia, the Lynas Corporation, did not have the cash to finish its mine and processing facilities after Western investors deserted its bond offering last winter. So Lynas agreed to sell about 52 percent of the company to the state-owned China Nonferrous Metal Mining Company on May 1.

This month, the Foreign Investment Review Board of Australia demanded that the Chinese company take a smaller stake and accept fewer seats on the board under any deal; Lynas announced on Thursday that China Nonferrous had refused and had instead withdrawn from the transaction, valued at $220 million.

Full Text


Note: The "Western investors" that crashed the Lynas bond offering , paving the way for the Chinese bid was none other than the Vampire Squid; Goldman Sachs. At question is whether GS withdrew the bond offering at the last minute as quid pro quo , ie...in exchange for favorable treatment in the Chinese market.

**Pertinent information relating to the thread topic...not an invitation to renew an off-topic personal debate**

Thanks

[edit on 4-1-2010 by OBE1]



posted on Jan, 5 2010 @ 12:25 AM
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It appears that China has officially embraced capitalism.

This is nothing more than a shrewd financial move by China. But it is a move that apparently TPTB in the US didn't see coming. The new 'green' technologies rely heavily on rare earth metals. The majority of high-strength magnets such as are used in generators and high-torque electric motors are NIB, made from NdFeB alloys (Neodymium-Iron-Boron). Neodymium is a rare earth metal. Rare earth metals are also under investigation in high-capacity battery design.

One should remember why the 'green' technology is being pushed at this moment in time. It has nothing to do with saving the planet. It has everything to do with money. The Middle-Eastern countries have their oil producing technology because TPTB gave it to them in return for fixing the value of the oil they produce to the US dollar. That, in turn, allowed the Federal Reserve to control the money supply of the US, the largest economy in the world in recent times, completely. There was no longer any need to back the money printed up with expensive gold, since it was backed up by the agreement to make it the currency used for oil.

Now that agreement is in ruins. Saddam Hussein was depegging from the dollar before the invasion of Iraq. Iran has depegged from the dollar, despite the beating of the war drums. Several other OPEC countries have either depegged or are about to depeg from the dollar as well. That leaves nothing to support the US economy. The green movement is retaliation and an attempt to regain control by making oil less valuable to OPEC through reduced demand (and the bailouts were simply a stop-gap measure to try and keep some semblance of an economy while the new directions were incorporated into it). What better way to accomplish this than to limit and control how much oil can be burned through the proposed Cap & Trade system?

But TPTB are not one group. It covers several groups. There are powers in the industrialized world, powers in the OPEC world, and powers in the Far East. This is the Far East's trump card. They have the operating mines and they now have the industry to hold the industrialized Western nations' attack on OPEC at ransom.

'Green tech' is a broad field, and one that, by definition, cannot be held hostage by any form of energy. But it can be held hostage by the materials needed to make it feasible. If there are no magnets, how will we make generators? How will we continue to improve battery life and performance without the rare earth materials? Answer: we can't! So now,while the West was busy setting up OPEC for a fall, the East saw their chance to make a play to take over the West's interests. We can't simply call it quits on attacking OPEC, either. There has been too much propaganda and progress to turn it off. Public opinion is easily swayed, but still has its limits.

It will be interesting to see how all this turns out, to say the least.

TheRedneck



posted on Jan, 5 2010 @ 01:12 AM
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Originally posted by OBE1
Coincidentally , the gubmn't down-under was uncomfortable with an attempt by state-owned China Nonferrous Metal Mining to assume a controlling stake in the Australian REE miner Lynas Corp.


China’s Threat Revives Race for Rare Minerals
September 25, 2009

In Australia, the government blocked a Chinese state-owned company on Thursday from acquiring a majority stake in a large mine being developed for these minerals, also called rare earths....

The developer of the largest rare-earths mine in Australia, the Lynas Corporation, did not have the cash to finish its mine and processing facilities after Western investors deserted its bond offering last winter. So Lynas agreed to sell about 52 percent of the company to the state-owned China Nonferrous Metal Mining Company on May 1.

This month, the Foreign Investment Review Board of Australia demanded that the Chinese company take a smaller stake and accept fewer seats on the board under any deal; Lynas announced on Thursday that China Nonferrous had refused and had instead withdrawn from the transaction, valued at $220 million.

Full Text


Note: The "Western investors" that crashed the Lynas bond offering , paving the way for the Chinese bid was none other than the Vampire Squid; Goldman Sachs. At question is whether GS withdrew the bond offering at the last minute as quid pro quo , ie...in exchange for favorable treatment in the Chinese market.

**Pertinent information relating to the thread topic...not an invitation to renew an off-topic personal debate**

Thanks

[edit on 4-1-2010 by OBE1]


I quoted you in full because it is relevant to the unfolding dynamic on this thread.

Don't worry, I have no intention to give more limelight to Hainan's Bobbsey Twins, but it does actually tie in.

Why? because China is pissed at Australia thwarting their attempts to monopolise the 'Rare Earth's market'.

PS. Not to steal your thunder on this - but I'm well aware of what's been going on with this deal for this last year. That's why I thought I'd do a bit of fishing last night.



posted on Jan, 5 2010 @ 01:21 AM
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reply to post by TheRedneck
 


A good overview of the new Green Game TR


I should mention that whilst China has the largest operational mining group for Rare Earths, other countries such as the US and Asutralia, actually in all probability, have comparably-large reserves.

This will prove to be an ioncreasingly-large thorn in China's side. Hence China's desire to obtain control majority in the Lynas Corp project. With absolute control, they can throttle back production so as not to inhibit their global sales margins.



posted on Jan, 28 2010 @ 12:32 AM
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Another cheery bit of news along these lines just crossed my radar. Not necessarily new info per se, but notable because they are giving a date. An uncomfortably close date, to my mind:



Global supply of rare earth elements could be wiped out by 2012

What industries are those? The automobile industry uses tens of thousands of tons of rare earth elements each year, and advanced military technology depends on these elements, too.

Lots of "green" technologies depend on them, including wind turbines, low-energy light bulbs and hybrid car batteries. In fact, much of western civilization depends on rare earth elements such as terbium, lanthanum and neodymium.

So what's the problem with these rare elements? 97 percent of the world's supply comes from mines in China, and China is prepared to simply stop exporting these strategic elements to the rest of the world by 2012.

If that happens, the western world will be crippled by the collapse of available rare earth elements. Manufacturing of everything from computers and electronics to farm machinery will grind to a halt. Electronics will disappear from the shelves and prices for manufactured goods that depend on these rare elements will skyrocket.


More at source:
www.proactiveinvestors.com.au...

Of course a sizable number of ATS'ers believe the planet itself will be wiped out in 2012 or ascend to a higher plane or what have you, so I suppose they wouldn't be too concerned about the mere evaporation of hard industry as we know it...



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