As a follow up to my post the other day regarding the reopening of a rare earth minerals mine in the U.S., China announced yesterday that it was slashing exports:
China, which produces about 97 percent of the global supply of the metals used in the production of numerous high-tech products, cut its export quota by 35 percent for the first half of 2011 compared with a year earlier, saying it wanted to conserve reserves.
Foreign Ministry spokeswoman Jiang Yu reiterated at a regular news briefing in Beijing that the quotas were necessary for environmental protection.
Unlike an earlier cutback when China appeared to be putting political pressure on Japan, the current cutback may indeed have an environmental impetus, since many of the rare earth mineral mines in China are run by gangs with little environmental controls.
In unrelated news, Stuxnet has been named the Top Middle East Story of 2010 and 2010 has been dubbed The Year of the Worm.
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Comments
Good post, Professor – while you're at it on the rare earth metals which affect the 'green' industry, please don't forget to mention the rapidly rising price of gas and groceries. I filled my car this morning. Over $50 and it is not a huge car. Remember when the Left was outraged at Bush for gas going above $3?
Please note on this story about rare earth minerals, that there is a deposit in Western Australia, and it looks like someone will get to mine it… I have note seen anything more about this site, or even who will mine the rare earth minerals.
@Van Halen, I have been paying more than $60 for a tank of gas over this past year. Admittedly my car is a larger one.