“With China attempting to tighten their noose around the current global supply of critical rare earths by setting the foundation for a national rare earth group, there’s a new sense of urgency for a domestic supply of critical rare earths” – Rare Earths Inc. CEO Kevin Cassidy.
It’s just a little over a year since I made the last post to my “Rare Earth Metals Crisis” archive (link below).
In that time, Western countries have made some progress in taking steps to exploit their own rare earth resources, and China has made efforts to consolidate its various mining enterprises and exercise control over its multitude of “rogue” rare earths miners.
What I don’t understand is why the West would allow control of such a strategic asset to fall into the hostile hands of the Chinese in the first place…
But, “better late than never”.
“The Inner Mongolia Baotou Steel Rare Earth Group, the largest rare earth metals mining company in China has bought nine regional mining companies… The move is part of China’s plan to consolidate its rare earths industry – which accounts for more than 90% of the world’s supply.”
“Rare Earths Inc.” Montana mining development announcement
“Market forces boosting production outside China and prompting a shift to alternative substances” – Pentagon report
“Canada is quietly staking its claim to being a global leader in a growing multibillion-dollar industry largely unknown to most Canadians but deemed by the government as ‘critical’ to the country’s economy.”
“(A) new industry group called Canadian Rare Earth Elements Network, established in cooperation with Natural Resources Canada… is poised to capitalize on extracting rare earth elements”
See my “Rare Earth Metals Crisis” archive here.