Daily
Telegraph: A draft report by
China's
Ministry of Industry and Information Technology has called
for a total ban on foreign shipments of terbium,
dysprosium,
yttrium,
thulium, and
lutetium.
Other metals such as
neodymium,
europium,
cerium, and
lanthanum
will be restricted to a combined export quota of 35,000 tonnes
a year, far below global needs.China mines over 95pc of the
world's rare earth minerals, mostly in
Inner
Mongolia. The move to hoard reserves is the clearest sign
to date that the global struggle for diminishing resources is
shifting into a new phase. Countries may find it hard to obtain
key materials at any price.Rare metals play a vital role in
most cutting edge technology, from
hybrid cars and
catalytic
converters, to
superconductors,
and
precision-guided
weapons.
