Rare earth metals are getting less and less popular as the days go by. It seems like in the near future, rare earth metals will no longer be used at all. As Keith Bradsher of The New York Times states, the prices of rare earth metals are declining sharply. Previously, the price of rare earth metals had been rising for three years straight.
The joke that China will soon be ruling the world is getting closer and closer to becoming a reality. In a recent press release by Market Watch Inc., CEO Peter Dickie of Quantum Rare Earth Development Corporation spoke out on how China controls 97% of the world’s rare earth elements. To him this is a huge problem for the development of U.S.
After reading the title of this article, one may ask who would illegally mine rare earth elements? This is a great question. Here in the United States, the thought of illegally mining rare earth elements, which could be extremely hazardous, rarely crosses a persons mind. Very rarely do Americans hear in the news about mining companies performing illegal operations for a bigger profit.