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China Control Nearly All Rare Earths on Earth

China Backs Rare Earth Controls as Environmental Step August 28, 2010, 11:59 PM EDT By Bloomberg News (Updates with Japanese foreign ministry officials comments in fourth and sixth paragraphs.)

Aug. 29 (Bloomberg) — China defended its controls on exports of rare earth after Japanese officials raised concerns about supplies of the raw materials used in the manufacture of products from cell phones to radar.

Restrictions on the rare earth industry will help protect the environment, the state-run Xinhua News Agency cited Chen Deming, China’s commerce minister, as saying yesterday at a media briefing during China-Japan economic talks in Beijing.

China cut its export quotas for rare earth by 72 percent for the second half of this year, according to data from the Ministry of Commerce on July 8. Shipments will be capped at 7,976 metric tons, down from 28,417 tons for the same period a year ago.

http://www.businessweek.com/news/2010-08-28/china-backs-rare-earth-controls-as-environmental-step.html

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