Sep 14, 2009
| Last Updated
Is China building a rare metals cartel equivalent to OPEC? Analysts began contemplating this possibility last month when a draft report by the Chinese government surfaced stating that China planned to ban the export of rare earth minerals. Last week, Chinese officials stepped back from this claim and said they were only planning to reduce export quotas of rare metals to 35,000 tons per year from 53,000 tons in 2008. World demand is currently over 110,000 tons and expected to grow to 188,000 tons by 2012, according[...]
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