China to create world wide shortage of rare earths ?
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Beijing said last year it would cut rare earths exports to conserve supplies and curb environmental damage from mining. Those plans are being closely watched by industrial customers in Japan, the United States and Europe that need them to produce mobile phones, batteries and other products
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China has about 30 percent of global rare earths deposits but accounts for about 97 percent of production. The United States, Canada and Australia have rare earths but stopped mining them in the 1990s as lower-cost Chinese supplies became available.
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Seems Japan has been cut off from it's supply of rare earth metals for a month now.
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Japanese companies say Beijing has blocked rare earths shipments to Japan since Sept. 21 after a Chinese fishing boat captain was detained near disputed islands.
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http://abcnews.go.com/Technology/wireStory?id=11923509