Beijing, China (AHN) – Tight new controls on rare earth minerals were announced by China’s State Council on Thursday, which issued a national guideline for the industry.
World-wide high demand for rare earth minerals, which are essential in high tech manufacturing of electronics, has caused rapid development of mining for the minerals, which has exposed numerous problems.
Electronics that contain rare earths include everything from consumer electronics to hybrid car batteries and even weapons guidance systems.
Controls include export quotas for rare earth minerals. The new controls mark the first time rare earths have been designated a national strategic reserve in China.
Rare earth minerals are comprised of 17 chemical elements in the periodic table.
The commerce ministry began an immediate export quota on all iron alloys that contain more than 10 percent of rare earths.
In addition, China announced it would begin building a strategic reserve stockpile of rare earths.
The move was not unexpected.
But it is bound to increase anxiety over the availability of supplies to industries that depend on rare earths as well as anxiety over prices. China holds one-third of the world’s reserves of rare earths and provides more than 90 percent of global production.
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May 22nd, 2011 
davidguide 
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