Report: U.S. dependent on China for rare earth metals

By Business Report staff
February 7, 2011 -- WASHINGTON, D.C. — The American Security Project (ASP) recently released a report titled "Rare Earth Metals and U.S. National Security," which outlines the national security risks of United States' reliance on China as the sole supplier of rare earth metals, which are essential to the nation's military and economic needs.

Emily Coppel, author of the report and research assistant at ASP, said, "Rare earth metals present a weak link in our defense supply chain. These metals are critical for national security, as they are essential for our most powerful weapons."

The U.S. was once the world's top producer and supplier of these metals, which are used widely in products, such as hybrid car motors, computer hard drives, cell phones, wind turbines and military equipment, according to the ASP website.

Contrary to their name, rare earth metals are not scarce at all. They are as common in the earth as silver. The U.S. has the world's second biggest deposit of rare earths, with "approximately 13 million metric tons of rare earth elements," mainly located in Western states such as California, Alaska and Wyoming (U.S. Geological Survey, 2010).

http://www.wyomingbusinessreport.com/article.asp?id=55942

AOL to buy Huffington Post for $315m

AOL, the US internet company, is making a big bet on the viability of free online content by agreeing to buy the Huffington Post, the left-leaning web operation started by Arianna Huffington, for $315m.

The deal, which was announced late on Sunday night, is the latest and most significant step AOL has taken to becoming a serious player in advertising-supported internet content.

Carlos Slim Gets Richer as Mines, Mobile Beat Gates, Buffett

Carlos Slim’s Mexican holdings from mining to communications helped him beat Bill Gates and Warren Buffett on the stock market for the second straight year, and gains in 2011 may widen his lead atop the global wealth list.
Slim’s publicly disclosed holdings surged about 37 percent to $70 billion in 2010, with wireless carrier America Movil SAB representing $48.9 billion of that wealth, according to data compiled by Bloomberg. The 22 percent jump in Berkshire Hathaway Inc. shares wasn’t enough for Buffett to catch up, and Gates’s Microsoft Corp. fell, hurting his returns even as he spread his investments to other companies.
Mexico will be “the emerging market of 2011,” boosting Slim’s holdings, said Walter Molano, head of research at BCP Securities Inc. in Greenwich, Connecticut. Growth will come from an economic expansion in the U.S., Mexico’s top trading partner, and from investors looking for growth opportunities outside of Brazil, Russia, India and China, he said.

http://www.bloomberg.com/news/2011-02-02/billionaire-slim-gets-richer-as-mining-mobile-beat-gates-buffett-returns.html