Didymium oxide, a combination of neodymium and praseodymium, two rare earth elements is shown here. Japanese and U.S. officials are meeting to discuss American supplies that could be exploited and whether substitutes could be found. REUTERS/David BeckerScrambling For Raw Materials: EU Plans Measures To Tackle Resource Crunch -- Spiegel Online
European companies are facing serious shortages of vital raw materials. China is holding back the export of rare earths, which are needed for high-tech products. A new EU strategy paper, which has been obtained by SPIEGEL ONLINE, seeks to address the resource crunch. But critics say it does not go far enough.
Metal, wood or fuels are the source of our prosperity -- but the supply of some of these is faltering. Geologists have long warned that certain natural resources are becoming scarce and that they are not being extracted in sufficient quantities. As a result, businesses face the threat of serious shortfalls in production. Some German companies are already facing problems relating to the supply of rare earths, which are used in high-tech appliances. "A supply crisis has begun," says geologist Harald Elsner of Germany's Federal Institution for Geological Sciences and Raw Materials (BGR).
Read more ....
Update #1: China's rare earth grip -- Financial Post/Canada.com
Update #2: Did China Overplay Rare Earth Hand? -- Saurav Jha, the Diplomat
My Comment: The U.S. and Japan are now cooperating to insure stable rare earth supplies. A rather interesting analysis on what India is doing to prepare for future resource shortages. But India, the U.S., and Japan are not the only countries that are now looking at how to ensure stable resource supplies. Canada .... a major world resource supplier .... is examining (even if they deny it) on what resources it has that should be deemed strategic .... i.e. meaning that foreign ownership will be limited. As prices for resources escalate, I expect other countries to follow this policy direction very quickly.
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