China’s plans to cut exports of rare earth minerals — used in alternative energy technologies — has the rest of the world scrambling. In the U.S., the country’s first new rare-earth mine in more than a decade is set to reopen…
China’s plans to cut its exports of rare earth minerals by 35% in 2011 sent commodities stocks soaring, with Hong Kong’s Hang Seng Index closing up 1.5%, China’s Shanghai Composite Index adding 0.7%, and Japan’s Nikkei 225 Inde…
China vowed it would maintain the supply of rare minerals and said it may boost 2011 exports of the substances.
The Chinese Commerce Ministry denied reports that it would further reduce export quotas.
“China will continue to supply rare earth to the world,” the ministry said in a fax to Bloomberg News.
The minerals are used in products such as electronics, wind turbines and smart…
Continue reading China Vows to Maintain Rare Mineral Supply
China Vows to Maintain Rare Mineral Supply originally appeared on DailyFinance on Wed, 20 Oct 2010 07:22:00.
Filed Under: Technology, Economy
Japan’s ruling Democratic Party proposed yet another economic stimulus package, this one for more than $58 billion, sending the Nikkei climbing 1.8%. Hong Kong’s Hang Seng Index rose 1.1%, while markets in China remained closed…