30.12.2010 07:05 Uhr, Quelle: Engadget

China tightens hold on rare earth exports, markets soar

If you own a flat screen TV, a hybrid, a PC, or any number of cell phones, chances are you own a small but very sought after piece of China. The country accounts for 97% of the world's rare earth production, and it recently announced plans to scale back exports by 10% in 2011. The move probably won't have a big impact on the average consumer, but it's certainly gained a lot of attention on the world market: the US threatened action in the World Trade Organization, stocks for rare earth mining companies spiked significantly, and Sony Corp. vowed to decrease its dependence on the minerals. It's not like the rest of the world is lacking for rare earth resources -- American's are actually sitting on 13 million metric tons of the stuff, wh

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