Prices may be on the move for rare earth elements as China restricts export quotas by 72 percent. Controlling 95 percent of the world market, the drastic reduction to exports will choke the supply of the materials for world consumption. Also, the Chinese are considering making a transparent, negotiation based pricing system.
Friday, The House of Representatives approved the National Defense Authorization Act, which outlines the US Department of Defense’s (DoD) budget and expenditures. Included in the Act was an amendment to formulate a plan to establish a domestic source of rare earth element neodymium.
It looks like the United States has finally decided to try and break China's grip on the supply of Rare Earth Elements after global concerns were raised of the Red country's monopoly.
Europe has finally acknowledged that there is a serious problem in the rare earths sphere. But what can it do to tackle it? Analysts are divided in their opinion.
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