New trend in rare earth elements

China's manipulation of the rare earth element market has led to yet a new chapter in the industry. Two of the world's largest end-users of rare earth elements are fighting back against the Chinese by entering agreements with two of the largest miners outside of China. Siemens AG

recently entered an agreement with Australia's Lynas Corporation to provide neodymium for magnets. Hitachi Metals, a subsidiary of Hitachi Ltd.

, has entered a three-year agreement with Molycorp

. Molycorp will provide Hitachi Metals with rare earths, including didymium (a mix of neodymium and praseodymium) metal and alloy, as well as lanthanum oxide.

.