HONG KONG — China is set to tighten its hammerlock on the market for some of the world’s most obscure but valuable minerals.
China is cutting exports of elements like terbium, pressuring manufacturers to open factories there.
Toyota’s Prius hybrids use several pounds of neodymium, a rare earth, in their electric motors. China currently accounts for 93 percent of production of so-called rare earth elements — and more than 99 percent of the output for two of these elements, vital for a wide range of green energy technologies and military applications like missiles.
Deng Xiaoping once observed that the Mideast had oil, but China had rare earth elements. As the Organization of the Petroleum Exporting Countries has done with oil, China is now starting to flex its muscle.
Artigo de Keith Bradsher; NYT;08/31
Leia o artigo completo no link:http://www.nytimes.com/2009/09/01/business/global/01minerals.html?src=linkedin
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