US to Wean Itself from China’s Rare Earth?

A US based non-profit called the Strategic Materials Advisory Council warned the US Department of Defense on March 21 against stockpiling rare earth metals.
 
Currently, China supplies about 95% of the rare earths market. The non-profit is concerned that relying on China for material so essential to US defense is unwise.
 
Instead of stockpiling the material, it recommends redeveloping a rare earths industry in the US that can support the US long-term. Rare earths were mined in the US some years ago but closed down in 2002 because of the inherent environmental damage and abundant supply from China.
 
Because China has so much control over the market, buyers are worried it could toy with the supply and hike up the prices as it did in 2011.
 
Japan learned the hard way how politics can affect the supply. In 2010 China cut all its rare earth exports to Japan, seriously hurting its high-tech industry.
 
Rare earth elements have many functions, but are best known for their use in batteries.
 
The US outlined rare earths in its “Strategic and Critical Materials 2013 Report on Stockpile Requirements,” and recommended spending over $120 million to stash it.
 
Other countries are also trying to develop their own rare earths production to diversify the supply away from China.


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