China imposes export curbs on rare earths

CHINA has curbed exports of rare metals as part of its retaliation to President Donald Trump’s reciprocal tariffs.The list of rare earths announced Friday includes samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium, according to a report by Bloomberg News. Rare earths are used in high-tech manufacturing from electric vehicles to weaponry.The export controls aren’t a blanket ban, but they mean that any overseas shipments will be subject to greater scrutiny over who is buying, and why, said the newswire. China accounts for almost 70% of the world’s production of rare earths, according to the US Geological Survey.“The new controls may further tighten global supply,” analysts from Citic Securities said in a note. The policy “safeguards China’s national security interests, and bolsters the strategic value of investing in the rare earth industry chain,” they wrote.However, two of the most common rare earths — neodymium and praseodymium — weren’t included. They’re used in powerful magnets that are one of the best-known applications for rare earths, said Bloomberg News.“Unlike the seven rare earths selected, these are more readily available outside China, which could make any controls less impactful,” said David Abraham, affiliate professor at Boise State University in Idaho of neodymium and praseodymium. “They may have been excluded to preserve the option of future controls.”The export restrictions won’t harm the stability of the international supply chain, according to a statement from the China Nonferrous Metals Industry Association on Sunday.“As long as companies do not engage in activities that harm China’s national sovereignty, security and development interests, the export control measures won’t affect their normal operation and trade,” the industry body said.The post China imposes export curbs on rare earths appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com