Why China Hold on Rare-Earth Metals Matters at Golden Networking's China Conference in New York.
As reported by The Wall Street Journal, "the concern over supplies of so-called rare-earth elements was highlighted this week by a report that Chinese customs officials had blocked exports of the materials to Japan. On Thursday, Beijing denied those reports. 'China doesn't block rare-earth exports to Japan,' said Chen Rongkai, a spokesman for China's Ministry of Commerce."
"At issue is a group of 17 metallic elements with magnetic properties suited for high-tech applications such as computer hard drives and digital cameras. Rare-earth elements are also key to 'green' technology: Energy-efficient light bulbs use europium and yttrium, while hybrid car batteries and wind-power turbines use neodymium. While rare-earth ore deposits are found around the globe, China's dominance in mining and processing the elements has raised alarms in Washington. According to an April 2010 Government Accountability Office report, China now produces approximately 97% of the world's rare-earth oxides, the raw materials that can be further refined into metals and blended into alloys that can be made into finished components."
2nd China Leaders Forum is produced by GoldenNetworking.net (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs, investors and diplomats, founded by former McKinsey consultant and Columbia Business School MBA Edgar Perez.
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|Publication:||PR.com (Press Releases)|
|Article Type:||Conference news|
|Date:||Sep 28, 2010|
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