Rare earth exports 'not China's bargaining tool'
By Richard Fu |
October 29, 2010, Friday
|
Print Edition
Print Edition
CHINA will not use the export of rare earths as a bargaining chip as it seeks international cooperation in the use of the minerals, a government official said yesterday.
China's rare earths exports account for more than 90 percent of the world's total.
"China will not use rare earths as a bargaining tool," Zhu Hongren, chief engineer and spokesman for the Ministry of Industry and Information Technology, said at a news conference in Beijing.
"Rather, on the basis of cooperation, development and win-win outcomes, we hope to cooperate with other countries in the use of rare earths and jointly protect this nonrenewable resource," he said.
Rare earth minerals are vital in the manufacture of a wide range of products, from mobile phones, hybrid cars to wind turbines, and even missiles. China's proven rare earth reserves account for 55.7 percent of the world's total.
The United States is also a major holder of rare earth reserves. A mine in Mountain Pass, California, was once the world's dominant producer but closed in 2002 due to environmental restrictions and competition.
Since 2007 China has restricted exports, as years of reckless exploitation in the sector led to wasted resources and pollution.
The export quota for this year was cut by about 40 percent from 2009 levels. Moreover, the quota for the second half this year is 72 percent less than the same period of last year, according to the Ministry of Commerce.
Zhu insisted the curbs are in line with China's commitments as a World Trade Organization member.
"China has exercised orderly management of the exploitation, production and export of rare earths, and this is within WTO rules," Zhu said. "China's production, use and export of rare earths are based on our considerations for economic development but also environment and resource protection."
Premier Wen Jiabao said this month in Brussels that China is seeking a sustainable way of exploiting the minerals.
China's rare earths exports account for more than 90 percent of the world's total.
"China will not use rare earths as a bargaining tool," Zhu Hongren, chief engineer and spokesman for the Ministry of Industry and Information Technology, said at a news conference in Beijing.
"Rather, on the basis of cooperation, development and win-win outcomes, we hope to cooperate with other countries in the use of rare earths and jointly protect this nonrenewable resource," he said.
Rare earth minerals are vital in the manufacture of a wide range of products, from mobile phones, hybrid cars to wind turbines, and even missiles. China's proven rare earth reserves account for 55.7 percent of the world's total.
The United States is also a major holder of rare earth reserves. A mine in Mountain Pass, California, was once the world's dominant producer but closed in 2002 due to environmental restrictions and competition.
Since 2007 China has restricted exports, as years of reckless exploitation in the sector led to wasted resources and pollution.
The export quota for this year was cut by about 40 percent from 2009 levels. Moreover, the quota for the second half this year is 72 percent less than the same period of last year, according to the Ministry of Commerce.
Zhu insisted the curbs are in line with China's commitments as a World Trade Organization member.
"China has exercised orderly management of the exploitation, production and export of rare earths, and this is within WTO rules," Zhu said. "China's production, use and export of rare earths are based on our considerations for economic development but also environment and resource protection."
Premier Wen Jiabao said this month in Brussels that China is seeking a sustainable way of exploiting the minerals.
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