For environmental and cost considerations, the United States is no longer rare earth mining

White House spokesman Robert Gibbs on October 26 that the U.S. will be in November’s Summit of the Group of Twenty Seoul, raised the question of rare earth.

Early October, Chinese Premier Wen Jiabao to attend the sixth China-EU Business Summit had been very clear on the earth to the management and control is necessary, but never blocked. Chinese Foreign Ministry spokesman Jiang Yu, 26, said control of rare earth resources is China’s sovereign rights, in line with the relevant provisions of the World Trade Organization, does not violate China’s WTO commitments. Limit the export of natural resources important to the common practice in all countries, accusing China in this regard is not justified.

U.S. clean energy technology company does not appear rare earth supply disruptions

Gibbs 26, said the U.S. government is “monitoring” the current problem of supply of rare earth, and concern about whether the slowdown in China’s exports of rare earths. Gibbs said, given the rare earth reserve safety and economic significance, the United States is bound to earth in the G20 summit on the issues raised.

U.S. Department of Energy Task Force Leader ritical metal 25, said that the U.S. is not heard of any rare earth clean energy technology companies supply disruptions occur. But she said that some expression of clean energy companies may control the future of China rare earth export concerns.

Consumption in the United States ranked first in the world of rare earth and rare earth was once the world’s leading producer. But for the environment and cost considerations, is no longer mined rare earth, rare earth mine in the United States last one closed in 2002.

Japan-US earth “not only into”

Japan and the United States has been “unofficial” discussions will be submitted to the World Trade Organization on China’s restrictions on the export of rare earth. However, WTO Director General Pascal Lamy said, WTO has no right to deal with such raw materials problems.

German Economics Minister, said Bruce Drake 26, this free trade agreement must apply to all commodities, particularly rare earth resources. Any country to remain active in the international market level, it must also open the local market. Federation of German Industries also called for the day, the United States and Europe should collaborate to reduce dependence on China Rare Earth.

Industry analysts pointed out that the earth as a very important strategic resource, there is no reason to implement free trade, China Rare Earth itself firmly in the hands advantages, should be confidently identified characteristics of strategic exchange, while the acquisition of thin metal as a strategic reserve, the use of their hedging value.

China’s rare earth production accounts for about 97% of the world, and rare earth reserves are only 99 million tons of total global reserves of 36%. Lack of control, a considerable part of the Chinese Rare Earth are sold at low prices to the United States, Japan and European countries. In 2008, China rare earth mining about 12 million tons, accounting for 97% of global output. The United States and Japan will import up to prepare for the future of rare earth storage needs. 2009, the U.S. reserves of 13 million tons of rare earth, accounting for 13% of the world’s total reserves, output is zero; Japanese imports of rare-earth is about 30,000 tons, the output the same zero.

Rare earth soaring stock prices

The growth of small companies in California Kaiser Bottom Fish website site statistics show that since the end of 2008, U.S. stocks has been an overall increase of rare earth 12 times, and in the last month is up 35% of the total. Kaiser Bottom Fish website warning global mining analyst John Kaiser, RE prices in such a short period of time has risen sharply and have been filling the bubble, “Now the RE market is like the 20th century, 90’s networking industry.”

Kaiser point out that a number of rare earth companies so far belong to the project feasibility study stage, probably would not be put into production, but they also appeared in the stock soared.

New York within the last four weeks of the rare element resource companies listed on the stock price rose 135% gain so far this year as much as 300%. In 2009 the company had only two full-time employees, and by 2015 production was expected to formally begin.

Toronto-listed rare earth materials technology company CEO, Neo Dental Nobel Biocare karaoke Naples not without worries, said: “When the bubble burst when the rare earth industry, I am afraid someone will cry.”

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