What is true that the cost from China was low enough for prospecting and mining of such rare metals to be made non-profitable in other countries. But the rare-earth minerals are still there. They can still be mined. They will just cost more.
Rare-earth metals are a group of 17 elements clustered together at the bottom of the periodic table. Despite their name, most are actually found in relatively high concentrations within the earth’s crust.
There are at least a few observers beyond the MIIT who say the latest hysteria is unfounded. Rare-earth miners in other countries stoked the controversy.
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