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China issues rare earth regulations to further protect domestic supply By Reuters:
China has unveiled a list of rare earth regulations aimed at protecting supplies in the name of national security, laying out rules on the mining, smelting and trade in the critical materials used to make products from magnets in electric vehicles to consumer electronics.
The regulations, issued by the State Council or cabinet on Saturday, say rare earth resources belong to the state, and that the government will oversee the development of the industry around rare earths - a group of 17 minerals of which China has in recent years become the world's dominant producer, accounting for nearly 90% of global refined output.
Their global industrial significance is such that under a law that entered into force in May the EU set ambitious 2030 targets for domestic production of minerals crucial in the green transition - particularly rare earths due to their use in permanent magnets that power motors in EVs and wind energy.
EU demand is forecast to soar sixfold in the decade to 2030 and sevenfold by 2050.
The new Chinese regulations, which will take effect on Oct. 1, say the State Council will establish a rare earth product traceability information system.
Enterprises in rare earth mining, smelting and separation, and the export of rare earth products, shall establish a product flow record system, shall "truthfully" record the flow, and shall enter it into the traceability system, the State Council said.
China already last year introduced restrictions on exports of the elements germanium and gallium, used widely in the chip-making sector, citing the need to protect national security and interests.
It also banned the export of technology to make rare earth magnets, in addition to imposing a ban on technology to extract and separate rare earths.
(Score: 2, Interesting) by Runaway1956 on Wednesday July 03 2024, @06:56PM (1 child)
I'm glad you asked. This article explains why it matters to us. https://www.gatestoneinstitute.org/18789/us-strategic-minerals [gatestoneinstitute.org] The US has been busy selling off it's strategic resources (Hillary and uranium deposits, anyone?) for decades. Today, we have few resources, and suddenly find ourselves dependent on China and others. We've lost the battle for hearts and minds in Africa (if we ever actually tried), so China is steadily gaining access to African resources, while we lose access. We have no access to Asian resources, and we are beginning to lose access in South America. Sadly, we've spent most of the last century making enemies around the world, while China has spent the past 40 years or more making friends.
This is just one more way in which the US is squandering our great-great-great grandchildren's inheritance.
“I have become friends with many school shooters” - Tampon Tim Walz
(Score: 3, Insightful) by JoeMerchant on Wednesday July 03 2024, @07:02PM
> Sadly, we've spent most of the last century making enemies around the world
It's lonely at the top, just ask Britain, and France before them.
You would think we would have learned from that history, but sadly... we seem doomed to outdo our global domination fore-bearers.
🌻🌻🌻 [google.com]