Tag Archives: minerals

Business/Economics, International, Technology, U.S.

Global Economic War: China could cut Rare Earth mineral exports, expect prices for high tech devices to go up

China is THE biggest supplier of rare earth minerals, which are absolutely necessary for today’s high tech computer devices, like your cell phone that’s almost permanently attached to your ear while you’re driving (stop that, damn it!).

How big? China supplies 90% of the world’s rare earth metals!

Chinese officials say they will try to meet their 2012 quota, but because of new environmental regulations going into effect they expect delays from the mining industry.

China’s Commerce Ministry has granted export quotas of nearly 24,900 tons to 31 companies. That’s only 80% of what they said they would export for all of 2012.  At least 20 other mining companies are having problems meeting the new environmental standards.  If those companies can not meet the new standards, then China will fail to meet their stated 2012 goal of exporting more than 30,000 tons of rare earth metals.

 

 

Business/Economics, International, Opinion, Technology, U.S.

Rare Earth Minerals the ‘oil’ of the 21st Century. Who controls the most? Same old adversaries of the 20th Century

Rare earth minerals will become the ‘oil’ of the 21st century.  That’s because they’re used in high tech electronics, and the more the world becomes reliant on electronics, the more valuable rare earth minerals become.

In fact, some analysts say some of the current wars raging on the African continent are all about control of rare earth minerals.

Here are some examples of rare earth minerals: Dysprosium is used in electric motors for vehicles, and Terbium for the latest televisions.

Who’re the biggest controllers of rare earths?  Why they’re the same major players of the Cold War in the 20th century: Russia (the boss of the Soviet Union during the Cold War), China and the United States.

However, China actually controls 90% of the production/refining of rare earths.  This is where their true power comes in.

Rare earth minerals are so important that the Japanese University of Tokyo spent a lot of money conducting a search for other sources of rare earths.  Their target search area was the Pacific Ocean.  International law would prevent any monopolization by any country, of rare earths found in the Pacific Ocean.

They found plenty.  From 2000 samples taken at 78 locations, Associate Professor Yasuhiro Kato estimates there is 800 times the rare earths at the bottom of the Pacific Ocean, than there is on land.

They targeted volcanic vents on the Pacific Ocean floor.  Hawaii has a lot.  The problem is that most of the high concentrations are at depths of 3,000 to 6,000 meters (9,842 to 19,685 feet).  So there are technical limits to getting at the Pacific Ocean rare earths.