China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
Britain is exploring the creation of a national stockpile of rare earth metals amid rising fears that the country’s efforts to adopt electric cars are at risk from a Chinese stranglehold on supplies, The Telegraph reported on Wednesday.
Officials at the Department for Business are discussing options to protect the United Kingdom’s access to vital materials including lithium and cobalt, the report added.
Britain could build a national stockpile to avoid shortages, support attempts to create domestic sources such as potential lithium mines in Cornwall, or use its diplomatic network to secure supplies from abroad in partnership with private businesses, The Telegraph said citing government sources.
Related read: Metals price rally could hamper switch to green energy — IEA
Related read: No longer dirty? EU leaders want to challenge perceptions of lithium mining
(By Radhika Anilkumar; Editing by Chris Reese)
Comments
Derp von Dorp
You know ‘rare earth’ metals aren’t actually that rare, right?
They’re just expensive, and the *free market* determined that it wasn’t worth their effort and profit margin to mine them anywhere except China. So, you all trusted a communist country that has no problems threatening and bullying foreign nations with a vital resource.
There are plenty of places where these minerals can be sourced including South America, Nevada in the US, Alberta in Canada, and elsewhere around the globe- it just won’t be as cheap as China.