Beijing cornering strategic minerals.
Not surprisingly, as China's rare-earth industry grows, "many of the processors and end users of these minerals are moving their advanced manufacturing and research and development facilities to China." A significant example of this trend is found in the sale and relocation of Magnequench, a company formerly based in Valparaiso, Indiana, that manufactured roughly 80 percent of the rare-earth magnets used in building smart bombs. The Tribune observes that "controlling the supply of these minerals gives China a strategic advantage as it seeks to build powerful high-technology industries and modernize its armed forces."
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|Title Annotation:||INSIDE REPORT|
|Publication:||The New American|
|Date:||Feb 20, 2006|
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