US Miner Digging for ‘Rare Earth’ Metals To Fuel the Boom in Green Technologies

Seeking to replace China as the leading supplier of these scarce materials, Colorado-based Molycorp Minerals plans to reopen its long-idle quarry to resume extracting and refining thousands of tons of rare earth ore in the next few years.

Last month, Molycorp entered a joint-venture deal with Arnold Magnetic Technologies of New York to make “permanent” magnets from rare metals at Mountain Pass.

Backed by hundreds of millions of dollars from equity investors, including Goldman Sachs, Molycorp aims to avert a looming supply crunch in rare earth metals that threatens to muffle the green technology boom.

“The world has been looking for an alternative to these rare earth permanent magnets for over 20 years, and one has not been found,” Molycorp chief executive Mark Smith said. “What Molycorp is proposing as a business strategy is to fill that supply chain and go all the way from mining to magnets.”

http://thejakartaglobe.com/business/us-miner-digging-for-rare-earth-metals-to-fuel-the-boom-in-green-technologies/327170

The Roadless Rule will prevent THAT! Many Roadless Areas don't have timber in them.....but they do sure have lots of minerals!

It is simply MUCH easier to go to another country where there aren't any restrictions! THAT'S the American Way! <smirk>

And if the natives get uppity, we can always Bring Them The Gift Of Democracy.