This latest news came from three rare earth industry officials cited by the New York Times. The officials spoke on the condition of anonymity for fear of backlash from China.
China currently controls about 97 percent of rare earth production, and has the only facilities capable of processing rare earth minerals after they have been mined. Rare earth minerals are not exactly rare, but the mining and refining processes can be costly and time-consuming.
Official Chinese plans have called for China to reduce rare earth mineral exports to meet its own rising industrial demands. That already indicated to many industry experts that countries such as the U.S. would have to find alternate supplies soon.
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