Recently, there has been a concern over the short supply of a group of elements called rare earth metals. Why? 1. China, which is the largest producer of these elements, has imposed some restrictions on their export 2. Other than China, Australia, Canada

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Q: 11 (IAS/2012)
Recently, there has been a concern over the short supply of a group of elements called “rare earth metals”. Why?
1. China, which is the largest producer of these elements, has imposed some restrictions on their export
2. Other than China, Australia, Canada and Chile, these elements are not found in any country.
3. Rare earth metals are essential for the manufacture of various kinds of electronic items and there is a growing demand for these elements.
Which of the statements given above is/are correct?

question_subject: 

Current Affairs

question_exam: 

IAS

stats: 

0,138,37,5,13,138,19

keywords: 

{'rare earth metals': [0, 0, 0, 1], 'elements': [0, 0, 2, 5], 'short supply': [0, 0, 0, 1], 'electronic items': [0, 0, 0, 1], 'demand': [0, 0, 0, 3], 'china': [1, 0, 1, 2], 'largest producer': [9, 1, 1, 3], 'manufacture': [1, 0, 6, 10], 'concern': [1, 0, 0, 4], 'restrictions': [1, 0, 0, 3]}

The correct answer is option 3, which indicates that both statements 1 and 3 are correct.

Let`s go through all options:

Option 1: This statement is true. China is indeed the largest producer of rare earth metals and has previously imposed restrictions on their export, which can contribute to their shortage.

Option 2: This statement is false. Rare earth metals are not only found in China, Australia, Canada, and Chile. They are found in various parts of the world, although in varying amounts. Therefore, this option cannot be the correct answer.

Option 3: This statement is true. Rare earth metals are crucial for producing many electronic items, and with the increasing demand for these items, the demand for rare earth metals is also growing.

Option 4: As already mentioned, statement 2 is incorrect, hence, option 4 containing all three statements cannot be the correct answer.

Thus, statements 1 and 3 explain the concern for the short supply of rare earth metals, making option 3 the correct answer.