Will China Continue to Cut Export Quotas for Rare Earth Metals?
In April, the US Government Accountability Office (GAO) published a report on rare earth materials in the supply chain of the Department of Defense. The report, commissioned by Congress, documented that China now dominates the supply of rare earth materials crucial to the nation’s defense, computer and renewable energy sectors.
In fact, the GAO estimates that China now supplies virtually all –or more precisely, a whopping 97 percent –of the world’s rare earth supply, and in the report the agency clearly voices its concerns that China could someday reduce the supply.
“The GAO report is a timely warning that the US needs to ramp up its domestic production of both light and heavy rare earths immediately,” US Rare Earths, Inc. Chief Executive Officer Edward Cowle said at the time.
But, perhaps even “immediately” isn’t soon enough? (more…)










