Rare Earth Metals Discovered
An obscure, desolate plateau on the South Western shores of Greenland could transform the future of consumer technology and shift the balance of power in the global supply of rare earth metals. The metals were found beneath the rocks and ice of the llimaussaq Intrusion and currently represents the world’s largest known reserve of rare earth metals. This specal discovery could challenge the sheer power that China has over the world metal fabrication with, Beijing being the top gun in the field for many years. At the moment, Beijing has over 95% of the metal trade in it’s grasp. China have been focusing for over 15 years in getting their metal industry right and that is why they can use it as such a powerful weapon.
According to the mining community, Greenland will have an amazing hand of luck over the coming years as it is currently negotiating sovereignty from Denmark which will mean that any natural materials found in Greenland will be their property alone which will help maximise trade with other countries. The cost of extracting the rare earth metals will be offset by the profits from extracting uranium from the same site, effectively preventing China from undercutting the operation on price, which is how it obtained its dominance over the world market in the first place. The metal itself will be very useful for companies who specialise in tube manipulation and steel fabrication so it will be extremely valuable. Rare materials such as these do not go un-noticed and even the Japanese Governement has been getting in on the action as they do not want to be left out. With the discovery of these rare earths the market will become more transparent and fairly priced therefore alleviating the heavy cost of metal for business and corporations all over the world. This will have a massive impact on the metal industry for the next few years and and I am looking forward to see what the effects will be.
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