China Tightens Control Over Rare Earths

http://www.nytimes.com/2011/02/17/business/global/17rare.html?_r=1&ref=china

China announced plans to consolidate mining operations of the countries rare earths under a few state run operations. Until now, China, which contains 95% of the worlds rare earths (a group of elements crucial in the use of much of our modern technology) had been dealing with various small time independent mining groups competing amongst themselves, keeping prices to low, in the state's opinion. Plans to consolidate are vague, and leave several questions hanging; how will China deal with its rampant illegal mining problem, and what effect will consolidation have on the rest of the global economy?