RareMetalBlog mentions ARU...China is today the monopoly...

RareMetalBlog mentions ARU...

China is today the monopoly producer of rare earth metals; it mines between 90 and 95% of the annual global total. That monopoly would have been threatened had either Australia's Arafura or Lynas gone into production; Lynas is also building what was to be the world's largest rare earth refinery in Malaysia. Two Chinese mining companies have now put an end to that threat permanently. Arafura now has a 25% Chinese partner, which is also the majority owner of a new joint venture with Arafura to explore for and develop iron ore resources in Australia.

At the same time CNMC, China Nonferrous Mining company, has made an offer to buy 51% of Lynas and to put up the money to guarantee the construction of Lynas' rare earth refinery in Malaysia. It's not much of a stretch to imagine that in return for the money for the refinery CNMC will get an offtake of the refinery's output from Lynas, and, I would imagine, Arafura, for many years to come.

http://irblog.blogs.com/rare_metal_blog/2009/05/china-today-monopoly-producer-of-rare-earth-elements-rees.html