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Analysis: Rare earth monopoly a boon to Chinese clean tech firms

Wed, 08/11/2010 - 8:24pm
Reuters

HONG KONG (Reuters) - In the race to build hybrid cars and wind turbines to feed growing demand for green technology, China has one clear advantage, it holds the world's largest reserves of rare earth metals and dominates global production.

Wind turbines, made by No.2 wind turbine maker Xinjiang Goldwind Science & Technology, and hybrid cars, being developed by Warren Buffet-backed Chinese automaker BYD are among the biggest guzzlers of rare earth minerals, which analysts say are facing a global supply crunch as demand swells.

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