AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Byline: Patrick Falby
What's the most exceptional ingredient in your PC, iPod, cell phone and digital camera? Rare earth. The rare earth industry (including minerals and oxides like indium, tungsten and dysprosium) is worth $1 billion and poised to grow by 50 percent in the next three years as high-tech devices become more ubiquitous. And, surprise: China has a stranglehold on it. While China imports nearly every other important commodity, it currently supplies about 97 percent of rare earths, thanks to a crafty state decision to develop the industry.
Chinese export quotas and taxes to control rare earth supply, along with increased demand, have propped up prices, expected to increase 10 to 20 percent annually for the next five years. Companies are racing to develop reserves ...