'Countries from India and Indonesia to Russia are tightening their grip on natural resources as they limit exports to build up domestic industry in a trend that will spawn many challenges to WTO rules'

the coming trade wars........from reuters.......

"Export barriers are tightening on commodities ranging from food and coal to iron ore and coveted rare earths that have critical roles in high-tech devices as countries harden positions on what they see as a sovereign right to development.

The WTO ruled this month that China broke trade laws when it curbed exports of coveted raw materials, a verdict that seemed to cast a doubt over nations' right to control and use raw materials on their soil.

Between October last year and April 2011, at least 30 new export curbs were imposed by countries such as China, India and Vietnam, up from 25 slapped on during the previous 12 months, the WTO said in a report in June.

"Every country is trying to conserve its resources," R.N. Patra, head of India's state-run rare earths company, IREL, told Reuters. "It is their right how they want to use them."

Indonesia had raised the floor price of coal, Australia had a levy on a minimum price, and even the United States had restrictions on the export of 10 elements, Patra added.

"This did not exist a few years ago. But in the future there will be greater competition for resources"....................READ MORE