China Stokes REE Concerns With Possible Export Controls China Stokes Rare Earths Concerns With Possible Export Controls
Bloomberg News
4. Juni 2019
* mechanism for tracking, approving exports
* NDRC met with experts focused on promoting the industry
China’s state planner is closely studying proposals to establish rare-earth export controls, adding to concerns that the mineral critical in production of military equipment and tech devices will be used as a weapon in Beijing’s trade war with Washington.
The National Development and Reform Commission met with experts focused on promoting the development of the industry who suggested that the government set up a mechanism for tracking and approving exports of rare earths.
Departments of the NDRC have indicated they will fully take on the experts’ advice, and put measures in place as soon as possible, the state planner said in a statement Tuesday. The experts also asked that authorities crack down on illegal mining, production and smuggling of rare earths, according to the statement...
There is speculation export restrictions may cover so-called heavy rare earths, a sub-group with a wide variety of uses that include magnets in miniature motors in almost all automobiles and consumer goods. Disruptions to supplies of rare-earth permanent magnets would be a “devastating” blow to the U.S. economy because of their widespread demand, U.S. industry veteran Jack Lifton has said...
The key questions for U.S. manufacturers are how quickly any curbs bite, whether alternative sources can be found, when, and at what cost. China’s grip over global heavy rare earths production is almost total, according to Shanghai Metals Market, and it will take a significant amount of time to build up the necessary processing capacity in other countries.
https://www.bloomberg.com/news/articles/2019-06-04/china-reviews-rare-earth-export-controls-proposal-amid-trade-war