What are ‘rare earth’ minerals? Turns out they are very important!
Monday, July 04, 2011
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Here is an interesting supply and demand example. Did you know smart phones contain ‘rare earth’ minerals which are vital for them to work? I didn’t, but it turns out that these minerals were becoming scarce with China (who have 97% of the total supply) restricting supply, possibly to increase prices.
Well panic over because a Japanese company have found huge deposits of the minerals on the floor of the Pacific which could increase the known deposits by 1000 times. How would this look on a demand and supply diagram?
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