China issues white paper on rare earth metals

China-White Paper/Rare Earth -- China issues white paper on rare earth metals

CCTV BEIJING - China on Wednesday issued a white paper on its rare earth industry, the first of its kind in the country, as the world's largest rare earth producer strives to better protect the valuable resources.

The white paper, titled "Situation and Policy of China's Rare Earth Industry," was released by the Information Office of the State Council, or China's cabinet.

China will continue to follow the World Trade Organization rules, strengthen scientific management of this industry and supply rare earth products to the global market, the white paper said.

"Some countries have been particularly fretful about the situation of China's rare earth industry and related policy measures, making guesses and conjuring up many stories," it noted.

The white paper said its publication was aimed at giving the international community a better understanding of China's rare earth industry and policy measures.

China will implement stricter environmental standards for rare earth exploitation while continuing to regulate the mining, production and export of the valuable resources, according to the government white paper.

The government will improve relevant laws and regulations and crack down on all violations, the white paper said.

"Synchronized administrative measures" will be taken on rare earth mining, production and export, while international exchanges and cooperation will be encouraged, it said.

The white paper said the country aims to build a regulated and orderly system of rare earth exploitation, production and market circulation "within a short period of time."

The country will also coordinate environmental protection with the industry development of rare earths, a group of 17 metals that are vital for an array of high-tech products ranging from smart phones, wind turbines, electric car batteries to missiles, said the white paper.

The country will continue the "protective exploitation" of the resources and adopt stricter standards for environmental protection, the white paper said.

Mining and production of the metals have taken a toll on China's environment. To control environmental damage and protect the non-renewable resources, the country has announced many measures, including production caps, export quotas, stricter emission standards and higher resource taxes.

Moreover, China called on other countries with rich rare earth reserves to boost exploitation and increase exports, according to the white paper.

"China opposes politicizing the rare earth issue, and is willing to strengthen dialogue and cooperation with other rare earth producers and consumers in a constructive and responsible manner, to work together with them in preventing excessive speculation in the rare earth market and solving the resource and environmental problems in the development of the industry," it said.

According to the white paper, China has been meeting more than 90 percent of the world's rare earth demand, but its reserves only account for 23 percent of the world's total.

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