Rare Earths Shortages, Price Spike Spark Supply Scramble

Worldwide demand for rare earth metals is on the rise just as China, which has a near-monopoly on supply, has drastically cut export quotas. New producers have plans to challenge China’s dominance, however, with mining projects slated to come onstream in 2012-2017. rare earth metals consist of 17 naturally occurring elements, many of which are crucial raw materials for important industries such as clean technology, electronics, defense, aerospace, and water treatment. China, which supplies about 97% of the world’s rare earths, cut export quotas 40% last year...

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