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5 comments

Rare (Euro) Earth?

Posted September 20, 2011 7:00 AM

The European Union is looking to become self-sufficient in rare earth minerals through recycling and future mining in Greenland. But can the program be productive soon enough? Will advances in China continue to outpace those in the EU?

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Guru
United Kingdom - Member - Indeterminate Engineering Fields - Control Engineering - New Member

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Location: In the bothy, 7 chains down the line from Dodman's Lane level crossing, in the nation formerly known as Great Britain - possibly to become "South Scotland" or "Non-Caledonia" from September 2016. Kettle's on.
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#1

Re: Rare (Euro) Earth?

09/20/2011 8:57 AM

At least the ice cap is receding - that'll make exploiting the resource much easier.

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Guru

Join Date: Jan 2008
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#2

Re: Rare (Euro) Earth?

09/20/2011 11:52 PM

Now, this is a rather funny exercise in basic economics.

In short, china cornered the rare earth market (with everybodies help and general laziness), then iacked up the price in a textbook move. Then decided, instead selling the raw stuff, selling the finished product for 50x -80x multiple of the original commodity price. Good for them, for this readily predictable, textbook move, again.

Now Europe is willing to violate the pristine wilderness of Greenland for this definitely dirty mining operation. So, the "principle" of clean environment goes out the window, when the magnets cost quite a bit more. So, every principle has its price, when it hits their own pockets, isn't it?!?

It is again an absolute, when somebody else, anybody else pays the price.

NICE! Let's remember it.

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Power-User

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#3

Re: Rare (Euro) Earth?

09/25/2011 10:18 PM

I'd be interested to find out why the Chinese have a monopoly on rare earths. Do they have a secret extraction method? Environmental obstacles to operating in the EU vs China? Lack of investment in EU mining and manufacturing?

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Guru

Join Date: Nov 2009
Location: Izmir, Turkey
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#4
In reply to #3

Re: Rare (Euro) Earth?

09/26/2011 12:05 AM

They just bought the market. They choose which sectors they are willing to lose money on for strategic purposes then as other parties leave the market due to cost constraints China Inc can do what they please for a few years.

In 10 years there will be a terrible whining from the various producers about low prices due to over supply and they will want handouts from the government to stay in business - if it goes like normal.

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Commentator

Join Date: Oct 2010
Posts: 80
#5

Re: Rare (Euro) Earth?

10/23/2011 1:42 AM

Seeing as how the Red Chinese WANT to have an "un-acceptible" monopoly on rare-earths, BOTH the EU and the USA should go for self-sufficiency in rare earths. The EU has greenland, the US has huge rare earth deposits in California/Nevada, LOCKED-AWAY...by the Economy Wrecker,--the EPA.

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