Concerns continue to grow over a possible supply crunch for rare earth metals, which are crucial elements in the manufacturing of many cleantech and electronic technologies.
China holds a 97% monopoly on the production of these metals and has been cutting export quotas since 2008, as it ramps up its own domestic manufacturing for cleantech products. In July, China announced its intent to cut exports 72% in the second half of 2010.
Also, there were reports that China froze all exports to Japan last month, following a border dispute.
China is not likely to cut all exports to the U.S., according to Mark Smith, who is the CEO of Molycorp, a company that is working to bring a California rare earth mine back into production.
However, there is growing polititcal and industrial concern surrounding the delicacy of the supply chain.
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