Rare earth metals shortage
Look at your mobile phone, Blackberry or low energy light bulb. Now ask yourself what is inside it? Yes, it is made with different components. The technology is great. But what are the components made with?
The chances are some of them are made with rare earth metals. Where do these rare earth metals come from? The answer is probably China. Certainly 95% of the world’s rare earth metals are currently mined there. So why should you worry about it?
Simple, if China stops the exports of these rare earth metals then your mobile phone can’t be built, as it needs certain components made with these rare earth metals to build a part of it. As it goes, China has decided to slash exports of these rare earth metals that have left the West scrabbling for alternative sources.
Category: Technology / Economic / Business
