China's Grip on Rare Earth Industry Tightens as Prices Drop

Rare earth mineral companies in China have been stung by declining prices at the same time the government "tightens its grip" on the industry, according to Nikkei Asia. Companies like Rising Nonferrous Metals, a rare-earth miner listed in Shanghai, are losing money this year, a stark contrast to last year's profitability.  The company is blaming "drastic slide in sales prices of its major rare-earth products," according to the report. They sell dysprosium, terbium and didymium, a mix of neodymium and praseodymium. This company belongs to central…