Posted on May 15, 2012 by Minerals Make Life
In a recent blog post, Wired discussed the importance of domestic rare earth minerals production, underlining that “China now controls 95 percent of total rare-earth supply.” The post highlighted the reopening of Molycorp’s rare earths mine in Mountain Pass, Calif., noting that rare earth elements are found in a range of cutting-edge technologies from mobile phones and computers to large wind turbines.
Mining analyst and editor of Kaiser Research Online, John Kaiser, noted that Molycorp is a vital part of the production equation, stating, “In five years there will be rare earths produced all over the world and China will lose its edge. They’re putting back into production what was once the largest rare-earth mine in the world. And this is a good thing because it takes away power concentrated in China.”
While Molycorp leads the way in rare earth minerals production, the critical need for an efficient U.S. mining permitting process remains essential to ensuring a reliable supply of domestic minerals.
Read the full article here.