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Posts Tagged ‘rare earth minerals’

More on the concerns surrounding rare earth minerals that China has almost a monopoly on…

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China reassures US on key ‘rare earth’ minerals

Oxides of rare earth metals
Rare earth metals come from China – they are vital for production of a range of electronic items

China has reassured the US it has no intention of withholding “rare earth” minerals from the market, the US Secretary of State has said.

China suspended export of the metals, key to some high-tech industries, to Japan after a diplomatic spat.

The US has pressed China, which has pledged not to use the minerals as a diplomatic weapon, to defuse the row.

Representatives from China and Japan also held informal talks on the fringes of an Asean conference in Vietnam.

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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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More on China’s rare mineral shipment stoppage…

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US inquiry into China rare earth shipments

Mini magnets made from chemically processed rare earths are shown in Beijing The 17 different rare earths are found in everything from magnets to hybrid cars and computer monitors

US trade officials say they are looking into a New York Times report that China is blocking shipments of rare earths to the US and Europe.

China mines 97% of the specialist metals crucial to green technology.

The report, citing anonymous industry sources, said Chinese customs officials had broadened export restrictions.

Meanwhile China’s commerce ministry has denied a report by the official China Daily that it will cut quotas by 30% next year to stop overmining.

“The report is completely false,” the ministry said in a statement.

“China will continue to supply rare earths to the world, and at the same time, to protect usable resources and sustainable development, China will also continue to impose restrictive measures on exploration, production and import and export of rare earths.”

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Look out, we have a tiger by the tail, did you know how dependent we are on China for these key minerals?

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China to Halt Some Exports to U.S.

HONG KONG — China, which has been blocking shipments of crucial minerals to Japan for the last month, has now quietly halted shipments of those materials to the United States and Europe, three industry officials said on Tuesday.

Reuters

A worker at the site of a rare earth minerals mine.

The Chinese action, involving rare earth minerals that are crucial to manufacturing many advanced products, seems certain to further intensify already rising trade and currency tensions with the West. Until recently, China typically sought quick and quiet accommodations on trade issues. But the interruption in rare earth supplies is the latest sign from Beijing that Chinese leaders are willing to use their growing economic muscle.

“The embargo is expanding” beyond Japan, said one of the three rare earth industry officials, all of whom insisted on anonymity for fear of business retaliation by Chinese authorities.

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