44.Germany: REE Scarcity Leads To Strategic Partnerships

Germany: REE Scarcity Leads To Strategic Partnerships October 26, 2010 Germany has been severely hit by the global shortage of rare earth elements (REE), and the government should guard against speculation in raw materials, German Economy Minister Rainer Bruederle said Oct. 26, Reuters and Bloomberg reported. According to two unnamed officials, safeguarding REE supplies is “crucial” for Germany, so Bruederle, whose ministry is hosting an Oct. 26 international conference, is attempting to forge strategic partnerships with seven countries — Mongolia, Namibia, Nigeria, Kazakhstan, South Africa, Chile and Peru — to secure commodities, including REE and copper. China needs to realize protectionism is not a “one-way street,” Bruederle said.