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It is now the Western Hemisphere’s only producer of rare-earth metals and one of just a handful outside of China, which currently produces 95 percent of the world’s supply. Last September, after China stopped exporting the materials to Japan for two months, countries around the world began scrambling to secure their own sources.
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To meet the forecast increase in demand of rare earth metals it is becoming increasingly critical to develop new rare earth metal mines. Even if most countries and companies around the world were happy with one country, China, supplying nearly all of an increasingly vital resource, it is becoming apparent that China itself may not be able to …
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