China Again Cuts Exports of Rare Earth Metals

China has nearly the entire world supply of minerals for tech gadgets
By Nick McMaster,  Newser Staff
Posted Dec 28, 2010 2:45 PM CST
In this undated photo, 2-millimeter-long mini magnets made from chemically processed rare earths are shown in Beijing.   (AP Photo/Kyodo News)
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(Newser) – China will reduce its exports of rare earth metals by 35% over the next 6 months, the Wall Street Journal reports. Having raised taxes on exports of the crucial metals earlier this month, this move will likely bring more attention to the stranglehold Beijing holds on the supply of minerals used to make everything from cell phones to tactical missiles. It also contradicts comments made this month by Commerce Minister Chen Deming, who said yearly quotas would remain untouched. The matter is likely to be raised when President Hu Jintao visits Washington next month.

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