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RIO DE JANEIRO -(MarketWatch)- Prices of heavy rare earths, used in products including magnets, plasma TVs and smart phones, have more than doubled over the last two weeks after China announced plans to centralise control over its rare earth mine assets, according to U.K.-based publication Industrial Minerals.
Prices for rare earth elements have been rising continuously since last year but are now escalating, according to the publication.
"Prices of heavy rare earths have surged since the start of the month as the Chinese government announced further plans to centralise control over the country's mining assets," Mark Watts, Industrial Minerals online news editor, said in a statement.
"Heavy rare earths, which are largely mined in the southern Chinese province of Jiangxi, have been subject to tighter environmental controls and a government crackdown on historically widespread illegal mining."
U.S. Geologists Uncover Staggering $1 Trillion Cache of Unmined Mineral Resources in Afghanistan (Updated)
With huge quantities of rare-earth elements valuable to high-tech industries like lithium-ion battery production, will Afghanistan become the "Saudi Arabia" of the future?
Umicore Precious Metals Refining operates as one of the world's largest precious metals recycling facilities. This business unit of Umicore is the world market leader in recycling complex waste streams containing precious and other non-ferrous metals.
We recover and sell precious metals (silver, gold, platinum, palladium, rhodium, iridium, ruthenium), special metals (indium, selenium, tellurium), secondary metals (antimony, tin, bismuth) and base metals (lead, copper, nickel). We put them back in the cycle for a better life.
April 11th 2011 post by boncho
What about Palladium and Yttrium? Seem like a way better play don't they?
Gold and Silver are horrible investments because everyone is flocking to them right now. And shucksters are marketing them beyond belief. Just like you are by posting this thread.
Gold and Silver, bubble, bubble, bubble....
Anytime someone wants you to buy something, it is usually a red flag.