Malaysians, shall we tell Lynas to go to China? — Rama Ramanathan

MARCH 18 — “In 1992, on a visit to China’s largest rare earth mine in Bayan Obo, Chinese leader Deng Xiaoping said, “There is oil in the Middle East; there is rare earth in China.” Seven years later Chinese president Jiang Zemin wrote, “Improve the development and application of rare earth, and change the resource advantage into economic superiority.”  (See Cindy Hurst, The Metal’s Edge, 22 Nov 2010.) 

In previous posts on Lynas, I’ve mentioned the energy crisis of the seventies which was precipitated mainly by the countries of the Middle East. The OPEC cartel developed a stranglehold strategy and implemented it. 

The Chinese took a leaf from the OPEC playbook. They woke up one day and said: “We can do what OPEC did.  We can strictly control the exploitation and export of rare earths.  We can be more powerful than OPEC, because we can insist on making everything that requires rare earths, rather than exporting the rare earths.” 

Full article : Malaysians, shall we tell Lynas to go to China? — Rama Ramanathan

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