Rare Earths: An Issue of National Security
With the rise of consumer technology products such as tablets, smartphones, TVs etc., demand for rare earths has intensified over the last decade. And given their use in military machinery (such as fighter jets) and the fact that China still controls about 92% of global production, having a sustainable domestic supply remains an issue of national security for the U.S.
Importantly, the Mountain Pass mine mainly produces what are known as the light rare earths. Heavy rare earths, the most expensive and sought after, are limited at the mine. Adding to the issue of national security for the US is the fact that no nation, never mind the global super power, should be reliant on one domestic source for a commodity that is so critical to its economy and military. And last night on "60 Minutes" they explained as much.
source: www.theaureport.com/pub/na/...ail&utm_campaign=TMR+3-24-15