China nationalizes eleven rare earth mines for environmental and strategic reasons

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Most of our favorite gadgets are constructed with parts made of rare
earth minerals, and as many of you already know, China produces the
lion's share of the stuff. So news that Hu Jintao and company recently
took control of 11 rare earth mines in order to more tightly manage
the mines' production is of great interest to hi-tech companies and
consumers the world over -- and could mean your next hybrid,
smartphone, or PC just got a bit more expensive. The Chinese Ministry
of Land and Resources indicates that nationalization of the facilities
was prompted by illegal strip mining and dumping of toxic tailings in
nearby waterways, but given China's pledge to reduce rare earth
exports by ten percent this year, it seems likely that the move isn't
entirely driven by environmental concerns. Consumers needn't worry too
much, however, as Japan and the US are currently searching for ways to
break China's monopoly on rare earths and keep us flush in affordable
flat-screen TVs and hybrid cars for years to come.