West Virginia Governor Takes on Chinese Rare Earth Monopoly

Republican West Virginia Gov. Jim Justice announced a development last week that could take a bite out of China's virtual monopoly on the extraction and refinement of rare earth minerals.

These 17 elements are called rare earth metals because they are hard to find in economically viable concentrations. They include Scandium, Yttrium, Europium, and Gadolinium, among others. Rare earths are critical for producing semiconductors and other components in high-tech equipment.