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Molycorp Says China May Become Net Importer of Rare-Earth Minerals by 2015
Mar. 10, 2011 07:41AM PST
Rare Earth InvestingBloomberg reported that Molycorp (NYSE:MCP) has stated that China may become a net importer of rare earths as demand inside the country grows.
Bloomberg reported that Molycorp (NYSE:MCP) has stated that China may become a net importer of rare earths as demand inside the country grows.
The market news is quoted as saying:
China controls 95 percent of global supply, according to the U.S. Geological Survey. Rare earths have soared in price since July, when China said it would cut exports by 72 percent.