Niocorp Developments Ltd (NB)

[interestingtome]

Here's an interesting article from 2010 - apologize again if this has been posted before.

Rare Earth Market Needs Competition, Says US Congress
Monday March 29, 2010, 4:50pm PST

"...Now, the US relies almost entirely on China to supply rare earths despite holding approximately 15 percent of the world’s reserves on US soil.

Dudley Kingsnorth, of the Industrial Minerals Co. of Australia, estimated that by 2015 the world demand for rare earths will total at about 210,000 tons. He expects China will churn out around 170,000 tons, leaving it up to the rest of the world to supply the remainder.

Miller says now is the time to recognize the importance of these minerals and act. He also notes China’s policy on rare earths is changing.

“China appears to view rare earths as one of the incentives they can offer a technology firm scouting for a new plant location. How do we compete in attracting and retaining manufacturing firms that need access to rare earth elements in light of China’s current near monopoly, and their willingness to use their monopoly power to our disadvantage?”

Clearly, the Chinese are no longer content to simply dig up rare earth minerals and export them to those countries who need rare earths for their high-tech manufacturing. So, with China poised to cut back on exports and a potential shortage of the minerals, which are instrumental in developing green technologies and in weapons manufacturing, some US lawmakers are calling it a national security issue.

Miller says, “The most immediate step [to end China’s monopoly] would be to get some competition back into the supply of rare earths.”

http://rareearthinvestingnews.com/610-rare-earth-market-needs-competition-says-us-congress.html