Tuesday, June 3, 2014

China’s Rare Earth Toxic Time Bomb to Spur $12 Billion of Mines

The toxic time bomb set by China’s rare earths mining boom is set to boost the prospects for some of the $12 billion of projects being developed outside the world’s biggest supplier.
As part of its pollution clean-up, China, which controls 90 percent of the global market, is studying the introduction of new taxes and regulations for rare earths in the second half that are forecast to drive prices higher.
The measures will add to pressures loosening China’s stranglehold on the production of rare earths, 17 chemically similar elements used in products from Apple Inc. (AAPL)’s iPods toToyota Motor Corp. (7203) hybrid-electric cars and Tomahawk cruise missiles made byRaytheon Co. (RTN)

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