REE Shortages Could Exacerbate U.S. Foreign Policy Risks, Congress Told
Source: Mineweb, Dorothy Kosich (9/21/11)
"Congress, the Obama Administration and U.S. manufacturers urged 'to come together to formulate a comprehensive strategy to end China's monopoly on rare earths.'"
The chairman of the House Foreign Affairs Subcommittee on Asia, the Pacific and the Global Environment, Wednesday urged Congress, the Obama Administration and U.S. manufacturers "to come together to formulate a comprehensive strategy to end China's monopoly on rare earths, from challenging China's trade actions to encouraging more American production of rare earths."
During Wednesday testimony before the House Foreign Affairs Subcommittee, Molycorp CEO Mark A. Smith said senior Chinese officials relayed to him last week that "China has no intention of remaining the world's major supplier of rare earths and that it will continue to shift its focus to domestic demand". . .View Full Article