I don't know if I should go into this, but some of you might remember there was quite a discussion, here, some time back, about "rare earth". The stuff that is essential to make GPS, electric car and laptop batteries, and MUCH more. The US, I believe, put LOTS of tax subsidies into getting US Cos to start mining. They are not REALLY rare, they simply are not in huge deposits, like Minntac iron ore, BUT, we don't need millions of tons per day.
Saturday's paper had an article that Molycorp, who is the largest rare earth mining Co in the US, is trying to make a deal to BUY a Chinese Company, based, I think, in Canada. China, who raised the price to astronomical levels, a couple years ago, when they set a quota on how much could be exported, will control even more of strategic minerals.
It is definitely NOT, in my opinion, in our National Interest to allow this sale, but, HEY, profit is profit. Any opinions?
Do a search. It was a pretty long thread.
George
Saturday's paper had an article that Molycorp, who is the largest rare earth mining Co in the US, is trying to make a deal to BUY a Chinese Company, based, I think, in Canada. China, who raised the price to astronomical levels, a couple years ago, when they set a quota on how much could be exported, will control even more of strategic minerals.
It is definitely NOT, in my opinion, in our National Interest to allow this sale, but, HEY, profit is profit. Any opinions?
Do a search. It was a pretty long thread.
George