43.Germany: Safeguard Rare Earths Supplies - Economy Minister

Germany: Safeguard Rare Earths Supplies - Economy Minister October 26, 2010 Germany has been severely impacted by a global shortage of rare earths and safeguarding supplies is critical, German Economy Minister Rainer Bruederle said on Oct. 26, Bloomberg and Reuters reported. His ministry is hosting a conference in Berlin on securing commodities. Bruederle is planning “strategic partnerships” to secure commodities, including rare earths and copper, according to two unnamed sources. The partner nations are reportedly Mongolia, Namibia, Nigeria, Kazakhstan, South Africa, Chile and Peru. Bruederle said China’s policy is not a “one-way street,” and that the “ghost of protectionism” haunts global trade. Speaking at the conference, he said Germany will work with mining states to safeguard rare-earth supplies; he did not name the countries.