[credit provider=”wikimedia commons” url=”http://en.wikipedia.org/wiki/File:Rareearthoxides.jpg”]
Every day there’s some new headline out of China about how it’s going to stockpile more rare earths, or tax their exports more heavily, and each time, shares of the big rare earths companies surge, most notably MolyCorp.Today the headlines are coming out of the US, which at the moment, is totally import-reliant.
According to WSJ’s China Real Time blog, the US might start building its own stockpile. That’s the aim of a new bill in Congress, specifically designed to counter China’s dominance.
Anyway, it’s great news for MolyCorp. The stock is up over 5.5%.