China Pledges Rare Earth Supply, Signals Export Rise

China pledged to maintain supplies of rare earths and signaled exports of the ingredients used in electronics, wind turbines and smart bombs may rise next year.

The Commerce Ministry denied reports in the New York Times and China Daily that the government plans further export cuts and has extended an embargo of Japan to include the U.S. and Europe. “China will continue to supply rare earth to the world,” the ministry said in a faxed response today.

“China might raise the production cap and export quota slightly next year,” said Wang Caifeng, until last week the deputy director at the Ministry of Industry and Information Technology who oversaw the sector, adding that it was her personal opinion. She is now in charge of setting up the ministry-affiliated China Rare Earth Industry Association.

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- Posted: 2010-10-20 05:18:41

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