Rocky Smith discusses the modernization of Molycorp Minerals LLC
If the United States intends to forge new paths in the production of renewable energy and lowcarbon technologies , it must revive production of rare earths and other hard rock minerals . Molycorp Minerals LLC – a rare earth producer and technology company – will assist the country to make the transition , General Manager Rocky Smith says .
Rare earth and other minerals are key in the manufacturing of wind turbines , hybrid-electric vehicles , energy-efficient light bulbs and defense applications , but the industry has long been monopolized in China . Today , China produces more than 97 percent of the world ’ s rare earth elements , including europium , lanthanum and neodymium . In total , 15 rare earth elements exist on the periodic table . However , the potential of China limiting its rare earth exports due to its own massive consumption is raising real concerns about where manufacturers would get the elements needed to produce new technologies .
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