New trend in rare earth elements
China's manipulation of the rare earth element market has led to yet a new chapter in the industry.
Two of the world's largest end-users of rare earth elements are fighting back against the Chinese by entering agreements with two of the largest miners outside of China.
Siemens AG (NYSE: SI) recently entered an agreement with Australia's Lynas Corporation to provide neodymium for magnets. Hitachi Metals, a subsidiary of Hitachi Ltd. (NYSE: HIT), has entered a three-year agreement with Molycorp (NYSE: MCP). Molycorp will provide Hitachi Metals with rare earths, including didymium (a mix of neodymium and praseodymium) metal and alloy, as well as lanthanum oxide.
Originally posted here.
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