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Wired reported China has been stockpiling rare earth minerals using government money for some time, despite a recent announcement exposing the country’s dwindling reserves.
Wired reported China has been stockpiling rare earth minerals using government money for some time, despite a recent announcement exposing the country’s dwindling reserves.
Stated in the report:
According to the China Securities Journal the stockpiling is already well underway, and most likely began a while before the country published a white paper on 20 June announcing the extent of its dwindling supplies and suggesting it would build a strategic reserve. Government revenue will be used to supplement the companies that help secure the resources and eleven mining zones have been allocated to the long-term project.