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Some interesting news on the Rare Earth front, courtesy of our friends at The Atlantic and Slashdot.
This article from The Atlantic showcases the “Project Phoenix” rare-earths mine in the United States which may provide an alternative to the Chinese stranglehold on these strategically and economically vital materials. But as some posters on Slashdot noted, the Chinese monopoly on rare earths also comes from owning rare-earth mines in other countries. What if the Chinese decided to buy this one, too? What would the political implications of that be?
Another note in the Slashdot article: recycling of existing rare earths may turn out to be a significant factor. If it takes a ton of dirt to come up with a cellphone’s worth of magnets, there’s something to be said to just ripping that magnet out of an old cellphone.
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I just joined for this! I think there may be some confusion between rare earth metals used in nearly all electronics and rare earth magnets used in EV motors and computer hard drives. Maybe the confusion is all mine though. Does this mine produce both? Or are both types derived from the same metals? Lastly, doesn't the induction motor qualify for a motor that doesn't use rare earth metals since it has no permanent magnets?
The Chinese are smart enough to put a monopoly together on rare earths? Color me skeptical. There very smart, ruthless capitalists who both buy and sell commodities. Best of luck for anyone trying to corner the market... And if they do have any success, regulatory and anti-trust push back still exists...
If the owners have even a shred of patriotism, they wouldn't sell the mine to China. But, since the $ is worth less and less by the day, it is a possibility.
considering that China's currency is pegged to the dollar, a weaker dollar does not help if they are selling to the Chinese. and ihatetrees: China has a near monopoly on rare-earth mining and refining, its the result of not having any environmental protection standards as well as a global price war in rare earths in the 1990s that made it uneconomical to mine most rare earths anywhere else but China.