Rare Earth Minerals: An End to China's Monopoly Is in Sight

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"North America is finally waking up to the consequences of a continued Chinese monopoly and has quietly invested significant money and resources into mining rare earth elements domestically."

Forbes, Paul Martyn

Paul Martyn is vice-president of Supply Strategy at BravoSolution.

Rare earth minerals aren't as rare as you think. The mining of rare earth minerals—well, that's another story.

China has a stranglehold on the market, mining more than 95% of the world's production of rare earth minerals. And because these minerals are critical elements to many high-tech products that business, government and consumers use every day—high-def TVs, mobile phones, PCs, wind turbines; even missiles—China's monopoly puts U.S. manufacturers in a tough spot. China calls the shots on price and availability, and manufacturers take what they can get.

The situation became a bit more urgent when China recently announced new restrictions on rare earth exports to the U.S. and other countries. The U.S., Japan and the EU countered by filing a complaint with the World Trade Organization claiming China was choking off global exports for its domestic benefit. . .View Full Article

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