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China sets up rare earth body to shake up industry

 

April 10, 2012 (Source: Reuters) — China on Sunday set up a rare earth industry association, state media reported, in a move to speed up consolidation of its sprawling industry that has drawn fire for what overseas trade partners call unfair export quotas.

The association, with 155 members across the country, will report to the Ministry of Industry and Information Technology, which regulates rare earth production, the official Xinhua news agency said.

Baotou Steel Rare Earth in Inner Mongolia, Rising Nonferrous in Guangdong and China Minmetals are among 13 heavyweight members, Xinhua said.

Su Bo, an industry vice minister, said Beijing wanted to shake up the industry by phasing out small smelters, giving big players a greater stake in the supply of rare earth metals and boosting environmental protection.

“China will continue to clean up the rare earth industry, expand rare earth environmental controls, strengthen environmental checks, and implement stricter rare earth environmental policies,” Su said.

Xinhua said the long-awaited body would promote international exchanges and help Chinese companies to handle trade disputes. China’s rare earth export quota is managed by China’s Ministry of Commerce.

The European Union, the United States and Japan complained to the World Trade Organization last month that China is illegally choking off exports of rare earths to hold down prices for its domestic manufacturers and pressure international firms to move operations to China.

China accounts for about 97 percent of world output of the 17 rare earth metals crucial for the defense, electronics and renewable-energy industries and used in a range of products such as the iPhone, disk drives and wind turbines.

Beijing has said its export curbs are necessary to control environmental problems caused by rare earth mining and to preserve supplies of an exhaustible natural resource.

 

How Can I Make the Most of My Meeting with the China Rare Earth Industry Association?

When preparing for your meeting with Chinese rare earth industry association, ensure you have a clear agenda and goals in mind. Use the opportunity to gain valuable insights into industry trends, regulations, and potential collaboration opportunities. Be proactive in asking questions and expressing your interests to make the most of the meeting.

What is the current state of China’s rare earth environmental issues?

China’s rare earth environmental impact has been a major concern due to the country’s dominance in the global rare earth market. The mining and processing of rare earth elements have resulted in widespread environmental pollution, including water contamination and soil degradation. Efforts are being made to address these issues, but challenges remain.

What Is China’s Current Strategy for Rare Earth Minerals?

China’s rare earth outreach aims to expand its influence in the global rare earth mineral market. With a focus on securing a steady supply and dominating the industry, China has been offering incentives to foreign companies to establish partnerships and invest in its rare earth projects.

How is the WTO rare-earth investigation affected by China’s new rare earth industry body?

The WTO rare-earth investigation is now complicated by China’s new rare earth industry body. The regulator’s response to claims of unfair practices will likely impact the ongoing investigation. The formation of this new industry body clearly demonstrates China’s intention to exert more control over its rare earth industry, potentially influencing the outcome of the investigation.

Is China’s Rare Earth Body a Threat to Western REE Production?

China’s rare earth body holds a dominant position in the global market, making it a potential threat to western rare earth production. The country’s control over critical minerals like neodymium and dysprosium could impact the supply chain and production of essential technology components in the West.

What is the significance of China’s rare earth industry consolidation and the establishment of a rare earth body?

China’s rare earths consolidation has significant implications for global supply chains and international trade. With the establishment of a rare earth body, China seeks to centralize control over the production and export of these critical minerals, potentially giving them greater influence in the global market.

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