Kazakhstan and Russia to produce rare earth metals.

By bne IntelliNews March 31, 2011
Kazakhstan's uranium producer Kazatomprom and Russia's state Rosatom signed a memorandum of intent to cooperate in the production and sales of rare earth metals, the market for which is compressed by export restrictions imposed by China. Sergei Kiriyenko, head of Russia's Federal Atomic Energy Agency, stated there are good chances to take rather significant share on the rare earth metals market. Rare earth metals prices have increased dramatically after China, which produces 97% of global rare earth supplies, limited exports of the metals used in a wide range of hardware in 2010.

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