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Drudge Retort: The Other Side of the News
Monday, November 29, 2021

If the mobile industry supply chain isn't stressed enough as it is, here's another problem: rare earths.

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... The 17 rare earth elements are essential for the manufacture of mobile phones and other electronic goods as well as everything from electric vehicles to medical devices and advanced weaponry.

The immediate problem is the soaring prices.

For example, in the past year the price of lithium carbonate, used in the making of lithium-ion batteries found in mobile phones as well as EV batteries, has risen 150%; praseodymium, critical for magnets used in EVs and wind turbines, is up 74%; terbium oxide, important for LEDs and lasers, is 60% higher.

One reason is the coup in Myanmar, which has disrupted supply from the world's third-largest rare earth exporter. ...

In September the Chinese government raised its rare earth quotas by 20% to a record level to increase supply. It was the second time this year it had raised the cap, following a 25% rise in February that was supposedly intended as a positive gesture to the US.

That hasn't eased the price issue but also points up to another problem, which is China's over-sized role in the global market.

This is no accident. A New York Times investigative report into China's acquisition of swathes of mineral assets in the Democratic Republic of Congo reveals that Chinese state banks provided at least $12 billion in credit to those transactions, and as much as $124 billion to the Chinese mining companies involved.

China dominates global production of rare earth metals and is also the only country with end-to-end capabilities, from mining to processing. It has a share of global mineral output of around 55% and about 85% of the refining capacity. ...


#1 | Posted by LampLighter at 2021-11-29 02:17 PM | Reply

This is a hit piece against the #GreenNewDeal, full of xenophobic, racist fear mongering.

#2 | Posted by oneironaut at 2021-11-29 10:27 PM | Reply | Funny: 3

#2

Pointing out that the communist Chinese dictatorship is trying to further corner the rare earth market is xenophobic and racist?

Are you Wu Mao?

#3 | Posted by willowby at 2021-11-29 11:37 PM | Reply

Maybe you don't need a new phone every year.

#4 | Posted by bocaink at 2021-11-30 02:03 AM | Reply

A New York Times investigative report into China's acquisition of swathes of mineral assets in the Democratic Republic of Congo reveals that Chinese state banks provided at least $12 billion in credit to those transactions, and as much as $124 billion to the Chinese mining companies involved.

Well US industry could have stepped up and acquired them instead, but they are more focused on the next quarter bonuses instead of the next quarter century. They will just pass the price increase along to the consumers.

#5 | Posted by Nixon at 2021-11-30 08:06 AM | Reply

Maybe you don't need a new phone every year.

They should just start calling them cameras you can text with.

#6 | Posted by REDIAL at 2021-11-30 08:21 AM | Reply

Bunch of BS. There's plenty of Rare Earth out there:

youtu.be

#7 | Posted by shane at 2021-11-30 10:32 AM | Reply

China is using capitalism as a weapon against us.

Meanwhile, the cl0wn brigade wants to spend more money on a military that is unable to defend us against box cutters and sell weapons (that don't win wars) to other countries.

We are being defeated by cargo ships laden with cheap goods and fentanyl. We can't get enough of either one of them.

Just think of how well Afghanistan will do when they aren't having to spend all that opium profit on fighting the Yankees over something that happened before many of them were born. I mean what was that 911 thingie anyways?

We've run out of the post-WW2 mandates that dropping those two nukes got us.

#8 | Posted by RightisTrite at 2021-11-30 11:34 AM | Reply | Newsworthy 2

Who will you steal it from?

Just a thought. How about an amicably lucrative deal to ensure supply.

Or continue put out bad karma.

#9 | Posted by fresno500 at 2021-11-30 02:23 PM | Reply

#8
I hope you feel better after that anti-American diatribe.

#10 | Posted by phesterOBoyle at 2021-12-01 09:11 AM | Reply

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