China has unveiled a list of rare earth rules aimed at protecting supplies in the name of national security, setting rules for mining, smelting and trading the crucial materials used to make products from magnets in electric vehicles to consumer electronics.
The regulations, issued Saturday by China’s State Council and Cabinet, say rare earths are state-owned, and that the government will oversee the development of the industry around rare earths — a group of 17 minerals that China has seized in recent years to become the world’s dominant producer, accounting for nearly 90 percent of global refined output.
Their global industrial significance is such that, under a law that came into force in May, the EU has set ambitious 2030 targets for domestic production of minerals crucial to the green transition – in particular rare earth elements due to their use in permanent magnets that power motors in electric vehicles and wind power. energy.
