STEVE INSKEEP, Host: NPR's business news starts with the power of rare earth minerals.</s>STEVE INSKEEP, Host: We're talking here about minerals used in many cell phones and other electronics. They aren't really that rare, but China controls the world's production of them at the moment, and China recently blocked exports of the minerals to Japan after a territorial dispute. Secretary of State Hillary Clinton has called on Beijing to explain what it's up to.</s>STEVE INSKEEP, Host: At a news conference today, a Chinese government spokesman said it is not using these minerals as a bargaining tool. However, other companies and countries around the world are looking for their own sources. An American firm recently raised around $400 million to restart rare earth mining in California.
China controls the world's production of rare earths, and it recently blocked exports of the minerals to Japan after a territorial dispute. Secretary of State Clinton called on Beijing to explain. A Chinese government spokesman said it's not using the minerals as a "bargaining tool."