China Still Dominates Rare Earth Industry

CleanTechnica reported on China’s monopolization of the global rare earth supply chain.

As quoted in the market news:

China’s claim on the rare earths market began in the 1980’s. Premier Deng Xioping famously quipped “the Middle East has oil, but China has rare earths,” and the country rapidly ramped up mining efforts. This drove production costs down so sharply that rare earth mining became unprofitable in other countries.

Click here to read the full CleanTechnica report.