Not so rare after all

China currently supplies 97% of the rare earth metals in the world, which really aren't that rare when you consider they are everywhere around the world. Its only their willingness to completely destroy the enviroment to make them as cheap as possible. "We want to be the OPEC of rare earth metals" was the chant 20 years ago, and a recent embargo almost, ALMOST looked like it would bear fruit. By virtually eliminating exports, companies in need of rare earths were being forced to move production to the mainland. Japan was particularly hard hit.

http://www.reuters.com/article/2011/07/04/us-rareearth-japan-idUSTRE76300320110704