China continues to regulate production, mining and export of rare earth resources, and it will also implement stricter environmental standards for these resources.
This was stated in the white paper entitled “Situation and Policies of China’s Rare Earth Industry”, the first of its kind on China’s rare earth industry. It was published by the Information Office of the State Council on Wednesday, June 20th and is says that China will “implement stricter standards for ecological protection and protective exploitation policies concerning rare earth resources”.
Rare earths consist of a group of 17 metal of utmost importance for manufacturing products, and China is the world’s largest producer of these metals. The paper also said that China plans in a short period of time to build an orderly and regulated system of rare earth production, exploitation and market circulation. During this period the ecological environment in important areas will be totally restored and merger and reorganization will move forward in the rare earth industry.
In May 2011, the State Council, China’s Cabinet proposed the establishment of a strategic reserve system to promote and encourage the healthy development of the rare earth industry. The Council was calling for a strategic reserve system , which included both corporate and state reserves.