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Posts Tagged ‘china monopoly’

More on denials from China, the truth, who knows these days, something to keep your eye on…

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China Denies Plans on Rare Earth Export Quotas: Report

A commerce ministry official denied a report that China would cut export quotas for rare earth metals by 30 percent next year, the China Business News said on Wednesday.

A day earlier, an unnamed commerce ministry official told the China Daily that Beijing would reduce the quotas to protect the country’s rare earth resources and avoid depletion of the crucial manufacturing minerals.

Mining
Jonty Wilde | Iconica | Getty Images

The China Business Daily, also citing an unnamed Ministry of Commerce official, said that report was groundless and that no such measures would be implemented.

The conflicting reports in state media compounded questions about how Beijing plans to manage its reserves of the minerals, used in products from autos, computers and cell phones to missiles and new energy technologies.

China accounts for more than 90 percent of the world’s production of rare earth metals.

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