China’s decision to curb exports of rare earths is set to spark a global race for alternative sources that may still take a decade to secure sufficient supplies, the head of the German commodities agency said.
More rigid environmental standards in the European Union and ethical questions over sourcing raw materials from developing nations mean there can be no quick fixes in finding viable alternatives to China, producer of more than 90% of the world’s rare earths, said Volker Steinbach, who heads the Hanover-based government agency. Stepping up global pressure on the Chinese government to resume exports may be the best short- term option, he said.
“We’re faced with a gap in rare-earth supplies that cannot be plugged overnight,” Mr. Steinbach said by phone ahead of a conference in Berlin today on securing commodity resources. “Realistically, bringing rare earths in volume to markets from new sites like Mongolia, Africa and Greenland may take five to 10 years.”
[More]
we mine that stuff in sask and no one seems to remember!