China Moving To Restrict Neodymium Supply

GuyFawkes writes with this quote from the Independent: "Britain and other Western countries risk running out of supplies of certain highly sought-after rare metals that are vital to a host of green technologies, amid growing evidence that China, which has a monopoly on global production, is set to choke off exports of valuable compounds. Failure to secure alternative long-term sources of rare earth elements (REEs) would affect the manufacturing and development of low-carbon technology, which relies on the unique properties of the 17 metals to mass-produce eco-friendly innovations such as wind turbines and low-energy light bulbs. China, whose mines account for 97 per cent of global supplies, is trying to ensure that all raw REE materials are processed within its borders. During the past seven years it has reduced by 40 per cent the amount of rare earths available for export."

Comments

I believe the Chinese are being short sighted

[MJMullinII]

First, though, I have a question: How many of these "Rare Earth Metals" are only rare on Earth.

My question is how many of them are abundant in space, but are simply limited on the planet?

While the doom and gloom scenarios I've read concerning this (not just this incident of hoarding with the Chinese, but also Oil in the Mid-East, etc. -- anywhere where the "haves" are attempting to limit how much gets to the "have nots") and I don't see it as scary as all.

I'm a liberal-Capitalist. What makes me different than a "Conservative" Capitalist is that I don't allow myself to be boxed in.

Conservatives bitch and moan regarding the United State's government's declining to tap the piss-dribble of oil still left in places like Alaska as though that's all that stands between being dependent on the Saudis and being completely liberated of oil dependence (feel free to read a healthy dose of sarcasm into my preceding statement).

They speak as thought the essence of Capitalism is doing the exact same thing forever and any voice to change the status quo is somehow un-Capitalistic! Forgetting of course THAT THE ESSENCE OF CAPITALISM IS OPENING A WINDOW WHEN SOMEONE OR SOMETHING CLOSES THE DOOR!

The only reason we use petroleum today is because we almost ran out of what we used before petroleum (for the curious kids out there, that would be Whale Oil).

This is no different. I feel we're quickly coming to a crossroads where things such as this will force us to finally stop squabbling over the piss-dribble of resources found on Earth proper and start to explore near-space. I'm not talking about going to Mars, Venus, or anything as outlandish as that. I'm talking about near-earth astroids (some of which are little more difficult to reach than the moon was).

While I don't know about "Rare Earth Metals" in particular, we *do* know that in easily reachable orbits are asteroids with literally TRILLIONS of dollars worth of Nickel, Iron, and Platinum. Resources (especially Platinum) which are also closely tied to the so-called "Green" economy.

In my humble opinion, I say let the Chinese have their day in the sun (after all, we once held the World's largest reserves of oil -- bet you kids find that hard to believe, huh!) Allow them to control anything they want within their own borders and we'll simply follow the Capitalist moniker and "open a window to get around their closed door".

I guarantee you, once we start (speaking of not having to squabble on Earth, but can simply search out ever increasing frontiers throughout near-Earth, and eventually the entire Solar System and beyond), things will never be the same.

Imagine never having to go to war because one country can literally cut another off from vital resources. Imagine (speaking as an American,thank you) being able to combine our entrepreneurial spirit with unlimited resources and potential.

I don't mean to sound goofy here, but there there really would be no end to what we could achieve.