China no longer has a stranglehold on the world's supply of rare earth metals

After China's aggressive move(s) to punish some countries by limiting shipments of RARE-EARTHS, namely in the 80's, other nations have gotten keen to the possibility of a global Rare Earth crisis.

Everyone can stop worrying now. China's grip over the world's supply of rare-earth metals has weakened considerably — and the country can't hold the global economy hostage, as was once widely feared. Or at least so argues a new paper on the topic.

Back in 2010, China produced 97 percent of the world's rare earth metals, which are used in everything from the magnets in our headphones and wind turbines to the catalysts in our gasoline refineries. That same year, China began restricting exports as part of a political dispute with Japan. The global price for rare earths skyrocketed, and there was a fair bit of alarm in the US about how China's chokehold on rare earths threatened the economy and even national security.

Now, many countries have ramped up Rare-Earth production, namely, the US and Australia. Also, several companies have worked to curb their Rare Earth dependence including Hitachi and Panasonic.

There you have it, ATS. No Doom and Gloom this time. Just want to bring some good news to ATS this time.

www.vox.com...

a reply to: lostbook

Alaska’s Billion Dollar Mountain

Based on a resource assessment performed for McKenzie’s company Ucore by Aurora Geosciences, Bokan may contain mineral deposits worth $6.5 billion. That figure is not for uranium, though, but a group of elements called rare earths.

source

Lots of talk about this in SE Alaska.

Never good to allow monopolies that can be used to inflate prices by controlling the supply.

Rare As Dirt

A key point here is that, despite their name, rare earth metals aren't actually that rare. At various points in the twentieth century, Brazil, India, the United States and South Africa were all major producers. It's just that, in the 1980s, China ramped up production massively, driving out competitors and cornering the market. (China could do this, in part, by going easy on environmental oversight of mining, which can be a horrifically dirty process.)

When China decided to restrict exports in 2010, that drove prices up and suddenly made it profitable for other countries to start boosting their own production again.

A pretty classic tale. They undercut the competition, grabbed market share, then spent it for political reasons by making competition profitable again.

They can still upset the market if they wish, as any major player can, but each time they do, they will give up a little bit more.

Russia faces a similar problem with their natural gas exports, which they are notorious for using as political leverage. Every time they squeeze, they push those dependent on them to alternative sources.

Monopolies only work if you're the only game in town.

a reply to: lostbook

Much rare Earths under the various Salt flats in the US. Just not been developed.


Interesting read.

To be honest I was never really that worried about rare earth metals in the first place. Considering a vast number of nations rely on Chinese slave labour to produce all the crap we consume it kinda makes sense they control the market doesnt it?

a reply to: SLAYER69

That is some desolate land and mining would no problem. Not a tree.......not a bush.......nothing but salt. Did you know if you swim in the great salt lake you actually float.

a reply to: lostbook

Just yesterday they bought 80% of the current amount of gold and silver that the world produced.

Instead of the us protecting our ginsing we scoured the low dark valleys in search of the biggest and strongest ginsing to sell to the other countries and we were unaware that we have spiritual ties to our plants and now our spirits are being used against us in order to gain control of the world. Day after day we watch as our power is being taken from us because we refuse to believe that anything besides human flesh can hold any power. Earth is a person and we walk all over him everyday.

I had heard that the push was on to end their stranglehold on that market. A potential crisis is over. Although this may seem to be mundane news, it is very important. Star & flag. a reply to: lostbook

originally posted by: Parthin
I had heard that the push was on to end their stranglehold on that market. A potential crisis is over. Although this may seem to be mundane news, it is very important. Star & flag. a reply to: lostbook

Thanks...