CHINA: China sets up rare earth association to regulate development

Record ID: 1958771

  • Title: CHINA: China sets up rare earth association to regulate development
  • Date: 10th April 2012
  • Summary: BEIJING, CHINA (ORIGINALLY 4:3) (APRIL 8, 2012) (CCTV - NO ACCESS CHINA) CEREMONY ANNOUNCING ESTABLISHMENT OF ASSOCIATION OF CHINA RARE EARTH INDUSTRY UNVEILING OF ASSOCIATION NAME PLAQUE UNKNOWN LOCATION, CHINA (ORIGINALLY 4:3) (FILE) (CCTV - NO ACCESS CHINA) VARIOUS OF SMELTING OF RARE EARTHS BEIJING, CHINA (ORIGINALLY 4:3) (APRIL 8, 2012) (CCTV - NO ACCESS CHINA)
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  • Location: China, China
  • Country: China
  • Topics: Asia / Pacific,Industry,Politics
  • Reuters ID: LVACJD4L4X6EZVPBC07ITURI1QF1
  • Aspect Ratio: 4:3
  • Story Text: China established an association to oversee practices of its rare earths industry on Sunday (April 8), in an effort in a move to speed up consolidation of its sprawling industry that has drawn fire for what overseas trade partners call unfair export quotas.
    The association, with 155 members across the country - including two of the biggest industry giants, the Aluminium Corporation of China and the China Minmetals Corporation - will report to the Ministry of Industry and Information Technology, which regulates rare earth production, state media reported.
    China Central Television (CCTV) showed pictures of the unveiling ceremony of the Association of China Rare Earth Industry in Beijing.
    Su Bo, the vice minister with China's Ministry of Industry and Information Technology (MIIT), said the association was important for the future of the industry.
    "The establishment of the association is important for the support of environmental protection, technology development and the protection of rare earth resources," he said.
    China produces about 95 percent of global rare earth supplies.
    The materials are used by the renewable and high-tech industry to make products ranging from wind turbines to mobile phones and flat-screen televisions.
    But processing the rare earths in smelting plants is very damaging for the environment.
    Beijing said the new association would better regulate their industry.
    "The recovery rate of state-owned mines is about 60 percent and it is 40 percent of private companies and it is only five percent of mines that are illegally exploited. There is a huge waste of resources. The resource reserves in our country are small. We cannot continue this situation, so we need to strictly manage of the rare earths," Su said.
    China recently announced a limit on the amount of rare earths it will export, sparking concerns among many countries that rely on China's exports to manufacture goods.
    The US, Japan and the European Union have filed a complaint against China at the World Trade Organization.
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