China Expands Export Quotas of Rare Earth Metals
May 20th, 2011Via: BBC:
China has expanded export quotas for rare earth metals, further tightening its grip on the minerals used in a number of high-tech electronics.
From Friday, iron alloys containing more than 10% of rare earths will fall under the export quota, the commerce ministry said in a statement.
Rare earths are a collection of 17 chemical elements in the periodic table.
World manufacturers rely heavily on China for these minerals.
Rare earth metals are used in high tech goods such as mobile phone handsets, hybrid car batteries, wind turbines and weapons guidance systems .
China had already cut exports by about 35% in the first half of 2011 driving up prices to record levels. It produces around 97% of rare earth metal supply.
Thank you for that news 🙂
Hm. Rare earths dropped overall on the Aussie exchange. Lithium’s on the rise though.