Mineral Shortage Crisis Ahead
Dr. Vince Matthews, Colorado State Geologist, spoke to about 30 high level industry representatives and WhiteStar clients yesterday at the University Club of Denver on “The Global Scramble for Natural Resources – Its Impact on Colorado”. The event was co-hosted by Spatial Solutions Group. Matthews warned of escalating prices for metallic and rare earth minerals, even accounting for the recent economic downturn. He also pointed out that China is the sole source for many rare earth minerals used notably in manufacture of vehicles like the Toyota Prius, and that it is now increasingly unwilling to export many metallic and rare-earth minerals. Matthews pointed out that China is rapidly acquiring all of the mineral resources it can during the down economic times at bargain basement prices, including a recent attempt to acquire coal resources in Kentucky and a strategic molybdenum mine in Colorado. This trenda is almost completely unnoticed in America. Matthews likened Chinese mineral resource acquisition to a high stakes game that, “Most Americans do not even know we are playing”. In short, we are selling our children’s futures to foreign interests. Matthews is the State Geologist for Colorado and Director of the Colorado Geological Survey.
