China rare earths supplier suspends production

[Omaha Steve]

Source: AP-Excite

By JOE McDONALD

BEIJING (AP) - China's biggest producer of rare earths is suspending production for one month in hopes of boosting slumping prices of the exotic minerals used in mobile phones and other high-tech products.

This week's move by Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech might fuel tensions with the United States and Europe. They have questioned Beijing's decision announced earlier to limit exports while it tries to develop its own manufacturers of magnets and other products made of rare earths.

In a statement through the Shanghai Stock Exchange, Baotou Steel said it wants to "balance supply and demand" after prices for rare earths fell amid uncertainty about the U.S. and European economic outlooks.

Rare earths are a group of 17 minerals used in manufacturing flat-screen TVs, mobile phones, batteries for electric cars, wind turbines and weaponry.

Read more: http://apnews.excite.com/article/20111020/D9QFUKGG0.html

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There is a rare earth mine opening in Nebraska. It will be the only one in the US.

[Crowman1979]

1. Sometimes I wish they would just legalize hemp already and use that for paper.

That way people wouldn't be consuming rare-earth metals via e-readers.

[naaman fletcher]

9. why would the availability of hemp books

stop me from using my kindle, or buying another one if it breaks?

[Crowman1979]

10. Because hemp is renewable and rare-earth metals are not.

[naaman fletcher]

11. I'd still buy a kindle. nt.

[newfie11]

2. I sure hope that farmer owns the mineral rights! n/t

[Marblehead]

3. gotta have our

weaponry, how are we gonna take over the world?

[Psephos]

4. Rare earths are critical for green energy tech and digital gear.

Wind and solar power depend on them, as do cell phones, iPads, computers, medical gear, automotive electronics, ad infinitum.

[PETRUS]

5. Whee! A capitalist world economy sure is fun!!! nt

[madrchsod]

6. i think there`s one in california that was sold to a Chinese company

[truthisfreedom]

7. I'm not so sure.

http://cleantechnica.com/2010/12/28/california-to-mine-rare-earth-materials-again/

[Township75]

8. Molycorp is a rare earth mine and it is in CA. It is operational and will increase capacity by Apri

Read all about it! Ticker symbol is MCP.