Sarissa Resources Inc (SRSR)

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World concerns over rare earth metal supply after China restrictions

2009-09-05 18:40 BJT


",China says it plans to restrict exports of rare earth metals, and build a strategic reserve of the valuable minerals. But this decision by the world's largest producer of rare earth metals has sparked global concerns. Let's check out some global reactions.

The Daily Telegraph has reported that China's decision could cause a crisis for high-tech development. The UK newspaper says global energy competition has entered a new stage, claiming this is because nations are already experiencing difficulties in acquiring rare raw materials.

The US News and World Reports says the US relies on the Chinese exports for new energy uses. Export restrictions on the metal elements could cause fuel refineries to cut production, triggering a new nation-wide energy shortage.

Meanwhile, the Times worries that China's plans could lead to a global supply short-fall, adding that the monopoly of rare earth metals is unimaginable for Western nations"...


link: http://english.cctv.com/program/newshour/20090905/104795.shtml