China’s Control Over Rare Minerals Troubles Pentagon (China Owns The MIC's Key Ingredients)

[Turborama]

After just seeing http://news.bbc.co.uk/2/hi/programmes/world_news_america/8365580.stm">this very enlightening report on BBC America about how China owns most of the rare minerals required for missiles, radars and green technology I carried out a quick Google search and could only find this month old news that hasn't been reported much, if at all...

China’s Control Over Rare Minerals Troubles Pentagon
U.S. officials say they can’t sit back and just hope that Beijing will provide what’s needed for crucial defense equipment.

By Richard Sammon, Senior Associate Editor, The Kiplinger Letter
October 15, 2009

U.S. officials are getting worried. China has cornered the market on rare earth metals vital to defense and for three years in a row has cut back on exports on which the Pentagon depends. Officials say it’s time the U.S. takes action to assure a long-term supply.

In the last decade, China has moved aggressively, acquiring mines around the world that now account for more than 90% of global production of the most desired rare earth metals, such as terbium, dysprosium, molybdenum, thorium, erbium and yttrium. Because of their special qualities, several are used in defense applications, especially in missile assemblies, radars, satellites and power supplies.

More: http://www.kiplinger.com/businessresource/forecast/archive/chinas-control-over-rare-minerals-troubles.html

More details on China tightening control of rare earth metals that are vital for green technologies: http://www.treehugger.com/files/2009/09/china-tightens-control-over-rare-earth-metals-vital-for-green-technology.php

[gateley]

1. Were we snoozing while China was accumulating all this? nt

[csziggy]

2. Here is the part that worries me

The North American market for rare earths is about $1 billion per year, but there may be more demand in the future, especially with a growing market for electric vehicles. Rare earths are used in batteries for electric cars. Japan, also dependent on China for rare earths, likely a major producer of electric cars, also may begin building a strategic reserve in the next few years.

Tight global supplies from China will lead to more prospecting, although there are only a few countries in which geologists expect rare earths to be found in large enough quantities to make mining operations worth the investment. Among them are South Africa, Greenland, Mongolia, Paraguay and New Guinea.

So even if we move to a green, renewable energy economy we will still be dependent on resources from other places to sustain the technology.

Didn't the Bushes buy a lot of land in Paraguay? Wonder if it was not for the retirement home we've speculated about?

[Ozymanithrax]

3. The Mountain Pass Rare EArth Mine near the California Nevada

border has been seeing a lot of new activity.
http://geology.csupomona.edu/drjessey/fieldtrips/mtp/mtnpass.htm

This is why.

[Turborama]

4. Is that the same one they mention towards the end of the BBC report?

Interesting link, thanks for sharing.

[KT2000]

5. During the bush administration

there were a few articles about this. They are forming trade groups with countries that control natural resources.

The US is just giddy because they found a cheap source of labor in China. Big-time high flyers feel like hotshit when they go to China and demand lower labor costs and get away with it. Arrogance. Meanwhile, China has been enacting longterm plans for their future and ours.

I am sure there must be lots of parables about this situation but I am reminded of Madame Butterfly.

We have important things to worry about though - making sure gay peole can't marry, unwanted children are born and only the well-off get healthcare.

[Rupert Notmurdoch]

6. Wait till they lay claim to the Moon!

As an avid supporter of the space program, someone's gonna have to transfer that water to a parched, overheated Earth!

[Indenturedebtor]

7. There isn't very much water on the moon

Just enough to setup a space station and maybe make some rocket fuel.

Further the water on Earth isn't going to boil off into space... if it did we would all be cooked like lobsters in any case.

[AdHocSolver]

8. Forget rare metals. We have a lock on credit default swaps, hedge funds, and bundled mortgages. nt

[Selatius]

10. Hey, it's fair. They can sell us lead painted toys, toxic pet food, and drywall with poisonous fumes

In exchange, we sell them fraudulent securities.

[SoCalDem]

9. China has money, and money buys a LOT of "stuff"

China is also building schools & opening businesses all over Africa & South America, and is teaching those children Chinese..and providing WORK ..paid work for the parents of those kids..

The days of the USA dropping off boatloads of rice & flour & used clothes on a dock somewhere, and then patting ourselves on the back, are O V E R .. China is building infrastructure & making deals with countries all over the world..

While we were admiring the lovely rows of plastic storage conatiners & $2 flipflops at Walmart, China ate our lunch:(

[bridgit]

11. Tuff - Rumsfeld set the whole thing up as a quick turn/high yield war profiteering escapade...

bush, Cheney, Rove, Rumsfeld, Reagan, Nixon's Ghost the whole shrieking lot of them never had any sense of what the future would look like past the closing bell - stupid, really really dangerously stupid governance. It's too late for them to cry about any of this stuff

[Turborama]

12. Competition for 'rare earths' (Reuters Video Report)

Nov 18 - China is stockpiling, taxing and imposing ever-smaller export quotas on rare earths -- the 17 obscure chemical elements without which many industries would grind to a halt.

Stefanie McIntyre reports: http://www.youtube.com/watch?v=kZz2Zn7z2fc

[ihavenobias]

13. I'm insanely behind on Thom Hartmann podcasts but I have to assume he's talking about this. n/t

[Turborama]

15. Do you have a link to the one you're referring to?

I'd be really interested to hear Thom's thoughts on this.

Thanks in advance.

[ihavenobias]

16. No, I'm really behind!

:)

[Nikki Stone1]

14. K & R

:kick: