WIth all the company's riches, why is a Goldman Sachs (GS) subsidiary getting a $3 million earmark from Washington? Politico : A mining company owned by Goldman Sachs and two private equity funds is in line to get a $3 million earmark for work at a rare earth elements mine in Mountain Pass, Calif. — raising questions as to why Congress would take on some of the risk for a bailed-out investment giant that’s already making a profit. As the article notes, Molycorp's mine is a rich source of
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Despite early reports to the contrary, China will not ban exports of rare earth metals, the New York Times reports. Instead, China will just virtually ban them : A copy of the draft rules, viewed Thursday, said China would further reduce its combined annual export quotas for all rare-earth elements to 35,000 tons a year, from 53,000 tons last year and almost 66,000 tons as recently as 2005. The draft policy also clearly stated that exports of dysprosium and terbium were to be prohibited a
China announced this week that it would tighten production and exports of rare earth minerals – a misnomer for a category of about 15 metallic elements on the periodic table that are, in fact, not actually scarce. The rarity of these elements comes from their concentration in only a few parts of the world, mainly Australia, North America, and China. According to a recent NY Times article, China produces 93 percent of rare earth elements, many of which are used for green technologies, including
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A mine in China's Baiyun Erbo Rare Earth Development Zone, home to half the world's rare earth production China is famous for mining one of the yuckiest, costliest and deadliest natural resources . But it's also home to 93 percent of global production of so-called rare earth elements — including two metals essential for a wide array of green technologies, from hybrid cars to wind turbines. Think of these as Read the full story on TreeHugger
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