Alaska governor makes case for rare earth minerals

At a mining summit in Fairbanks on Friday, Gov. Sean Parnell said Alaska could benefit economically by encouraging development of rare earth elements. "This is another step toward securing our future," Parnell said. "We want to stress that with the right investment and regulatory climate, Alaska has the potential to become a fresh and stable source of rare earth elements." The minerals are used in electronics, including Mp3 players, mobile devices and flat-screens. China has dominated the market, controlling some 97 percent of global rare earth minerals production. U.S. officials are worried that the minerals are vital to national defense, among other things, and they don't want to get squeezed by China or other countries, including Australia and Kazakhstan, that are starting to ramp up production. Hoping to spur development, Parnell is trying to get the word out about Alaska's deposits of rare earth metals. On Friday, the governor was speaking of rare earth elements during a keynote speech at the Alaska Strategic and Critical Minerals Summit in Fairbanks. "Earlier this year, I called for collaboration in funding a strategic assessment of rare earth elements so we can learn how Alaska can help meet America's needs. Advancing rare earth element exploration and production lessens our dependence on foreign supplies and helps diversify Alaska's economy."