• 11 hours Iraq Begins To Rebuild Largest Refinery
  • 15 hours Canadian Producers Struggle To Find Transport Oil Cargo
  • 17 hours Venezuela’s PDVSA Makes $539M Interest Payments On Bonds
  • 18 hours China's CNPC Considers Taking Over South Pars Gas Field
  • 20 hours BP To Invest $200 Million In Solar
  • 21 hours Tesla Opens New Showroom In NYC
  • 22 hours Petrobras CEO Hints At New Partner In Oil-Rich Campos Basin
  • 24 hours Venezuela Sells Oil Refinery Stake To Cuba
  • 1 day Tesla Is “Headed For A Brick Wall”
  • 1 day Norwegian Pension Fund Set to Divest From Oil Sands and Coal Ventures
  • 2 days IEA: “2018 Might Not Be Quite So Happy For OPEC Producers”
  • 2 days Goldman Bullish On Oil Markets
  • 2 days OPEC Member Nigeria To Issue Africa’s First Sovereign Green Bond
  • 2 days Nigeria To Spend $1B Of Oil Money Fighting Boko Haram
  • 2 days Syria Aims To Begin Offshore Gas Exploration In 2019
  • 2 days Australian Watchdog Blocks BP Fuel Station Acquisition
  • 2 days Colombia Boosts Oil & Gas Investment
  • 2 days Environmentalists Rev Up Anti-Keystone XL Angst Amongst Landowners
  • 3 days Venezuelan Default Swap Bonds At 19.25 Cents On The Dollar
  • 3 days Aramco On The Hunt For IPO Global Coordinators
  • 3 days ADNOC Distribution Jumps 16% At Market Debut In UAE
  • 3 days India Feels the Pinch As Oil Prices Rise
  • 3 days Aramco Announces $40 Billion Investment Program
  • 3 days Top Insurer Axa To Exit Oil Sands
  • 4 days API Reports Huge Crude Draw
  • 4 days Venezuela “Can’t Even Write A Check For $21.5M Dollars.”
  • 4 days EIA Lowers 2018 Oil Demand Growth Estimates By 40,000 Bpd
  • 4 days Trump Set To Open Atlantic Coast To Oil, Gas Drilling
  • 4 days Norway’s Oil And Gas Investment To Drop For Fourth Consecutive Year
  • 4 days Saudis Plan To Hike Gasoline Prices By 80% In January
  • 4 days Exxon To Start Reporting On Climate Change Effect
  • 4 days US Geological Survey To Reevaluate Bakken Oil Reserves
  • 5 days Brazil Cuts Local Content Requirements to Attract Oil Investors
  • 5 days Forties Pipeline Could Remain Shuttered For Weeks
  • 5 days Desjardins Ends Energy Loan Moratorium
  • 5 days ADNOC Distribution IPO Valuation Could Be Lesson For Aramco
  • 5 days Russia May Turn To Cryptocurrencies For Oil Trade
  • 5 days Iraq-Iran Oil Swap Deal To Run For 1 Year
  • 7 days Venezuelan Crude Exports To U.S. Fall To 15-year Lows
  • 8 days Mexico Blames Brazil For Failing Auction

Breaking News:

Iraq Begins To Rebuild Largest Refinery

Alt Text

Busting The Lithium Bubble Myth

Lithium demand continues to grow…

Alt Text

How Long Will The Lithium Rush Last?

As the race to secure…

China Using Rare Earths as a Weapon

China Using Rare Earths as a Weapon

China is currently responsible for more than 90 percent of the worlds rare-earth production, and some analysts allege that China is using its de facto monopoly to lure a high tech companies to China. 

U.S. Magnetic Materials Association president  Ed Richardson said, "We're all losing. They (the Chinese) are using their monopoly of rare earths as a weapon. And they're going to get what they need." Richardson added that rare earth element (REE) mining projects currently being pursued by companies worldwide from Mongolia to Africa to counteract the Chinese de facto REE monopoly either will begin significant production too late or will produce only a few some of REEs needed for high-tech products, ranging from cellular telephones to cruise missiles.

Technology Metals Research LLC co-founder  Gareth Hatch is tracking 381 rare earth projects outside China and India, involving 244 companies in 35 countries, The Pittsburgh Tribune-Review reported.
 
As an example of China trading access to REEs for imported high-technology production, citing high costs for cerium, a glass-polishing rare earth, Japan’s Hoya Corp. announced that it will begin manufacturing some optical devices in China, and Asahi Glass Co., one of the world's largest producers of components for LCD television and computer monitor panels, announced earlier this year that it will open a manufacturing plant in Shenzhen. Like Hoya, Asahi Glass suffered from a shortage of cerium. Other Asian major LCD panel manufacturers, including Japan's Sharp Corp., South Korea's Samsung Electronics Co. and LG Display Co. and Taiwan's AU Optronics Corp. are intending to shift some of their production into China to ensure the necessary access to REEs.

By. Joao Peixe, Deputy Editor OilPrice.com




Back to homepage


Leave a comment
  • Anonymous on September 06 2011 said:
    This is why we want the out of Spratlys Island. They don't really care about preserving the natural balance of nature they simply want to support their capitalism which is pending doomed in the next twenty years.
  • Anonymous on September 06 2011 said:
    :cry: It won't surprize me to see China being number 1 and India 2 in five years. The US has too much out sourcing overseas.A debt that will never be paid. Defense spending will continue to increase because Americans are always afraid.The US defense spends $663 billion while china spend $78billionj and Russia $67 billion.Rome fell and so will the US.
  • Anonymous on September 07 2011 said:
    Well now Bob, I wouldn't be so pessimistic. One of the most ignorant presidents in US history got us into the present fix, and the gentleman coming after him - GUESS WHO - is completely incompetent. But American voters might eventually learn. The American president has enormous power, and if he uses it the right way, good things can happen.I also wouldn't be surprised to see China move up to the top spot eventually, because they dont waste time trying to bring freedom to ladies and gentlemen who don't have the slightest interest in the kind of freedom you find in many parts of the 'free world'..
  • Anonymous on September 08 2011 said:
    China is already waging war against the U.S. with rare earths dominance, and secret Gold purchases so lets face it, the future is at this point quite predictable.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News