A neodymium magnet, commonly used in motors, loudspeakers and other appliances. Neodymium is a rare earth element. ALAMYFrom The Independent:
Neodymium is one of 17 metals crucial to green technology. There’s only one snag – China produces 97% of the world’s supply. And they’re not selling.
Britain and other Western countries risk running out of supplies of certain highly sought-after rare metals that are vital to a host of green technologies, amid growing evidence that China, which has a monopoly on global production, is set to choke off exports of valuable compounds.
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My Comment: Forget about green technologies, many of these rare earths are required in high tech and sophisticated weapon systems.
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