Sunday, June 19, 2011

Cost of metals used in hi-tech devices soars as China limits supplies

The price of rare earth metals, used in items raging from computer hard drives and wind turbines to plasma televisions and smartphones, has more than doubled to record levels in the past two weeks, after a clampdown on illegal mining by China, the world's dominant producer of such elements.
The increases have fuelled concern that the world is hurtling towards a chronic shortage of rare earth metals, which could put everyday products out of the reach of large parts of the global population.

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