China seeks greener rare earth technology amid supply constrains
17 Nov 2010
China needs international cooperation on the technologies of rare earth production to use the resources in a more environmental-friendly way, said Yao Jian, spokesperson of China's Ministry of Commerce, yesterday.
Multinationals and developed countries should ''share their technologies (of rare earth production) by transferring those technologies at a reasonable price,'' to help achieve the global responsibility of environmental protection, Yao said.
China holds 30 per cent of the world's rare earth reserves, but contributes 80 to 90 per cent of the world's rare earth production and trade.
China cut the quotas for the mining, processing and exports of rare earth by 25 per cent, 23 per cent and 39 per cent, respectively, from 2009 to 2010, and levied an export tariff 15 to 25 per cent. And 41 rare earth products have been listed in the category of prohibited processing trade.
United States is concerned about its military dependence on China Rare Earth.
However, a study by the US defense department confirmed that China's monopoly on rare-earth materials poses no threat to US national security (See: US brushes aside reports on rare earth minerals shortage).
