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New Market Expansion - Term Paper Example
Pages 8 (2008 words)
New Market Expansion Customer inserts his/her name Institution’s name American Minerals LLC, founded by John Brighton, is a U.S based company in the manufacturing sector involved in the exploration, extraction and distribution of rare minerals. The company currently operates only in the American market with a setup in U.S and Canada…
The company holds approximately 40,000 acres of rare-earth elements in various parts of the U.S including Colorado and Montana. The rare-earth minerals have been an important resource used in most advanced technologies, particularly clean-energy technology such as that used in energy-efficient cars as well as hi-tech products such as mobile phones, hard disk drives, digital music devices as well as the telecommunication sector including fiber-optic technology (U.S. Rare Earths, Inc., 2013). Additionally, these minerals have been used as in water purification treatments as well as radar devices and global navigation (U.S. Rare Earths, Inc., 2013). Therefore, this industry is highly valuable in terms of the usage of these minerals, and therefore, is highly rewarding as well. As noted by researchers, China is currently the single source that is enriched with these minerals and supplies 90% of the world’s supply of rare earths (Bloomberg News, 2013). As per China’s policy, exports of rare earths have been decreased with government plans to hoard up critical minerals. The Government of China seems to be taking active interest in this booming industry with the intention of developing particular types of “permanent magnets (Zhang, 2011)”. ...
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