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China Rare Earth: White Letter Released
Pinnacle Digest writes: On Wednesday China released a 'White Paper', the first of its kind. The paper was titled, "Situation and Policies of China's Rare Earth Industry". China has agreed to continue to follow WTO rules and strengthen its rare earth industry management and continue to supply rare earth products to the world market.
China is by far the world's largest producer at over 90% of global production of rare earths. China's new approach to clarity and controlled support of global demand will likely send a shudder through the hearts and minds of rare earth developers around the world. If China is to continue to open its rare earth resources to the world it could have a very negative impact on foreign companies hoping to produce and gain market share.
The horror of mining rare earths in China and the negative impact on the environment associated with it has long been known and discussed. China has reportedly implemented a number of policies, including production caps, export quotas and stricter emission standards which are all meant to better control its rare earth industry. China also had a message for the global community in regards to its efforts to develop rare earth assets.
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