Brussels, 29/11/2010 (Agence Europe) - China, which has been suspected of extending restrictions it had placed on rare earth exports, is now reported as being prepared to talk. China holds 95% of known global reserves of rare earth minerals.
A Chinese diplomatic source is quoted by Reuters as saying that China is ready to ease its restrictions on exports of rare earths, a group of 17 minerals used in high-tech products as varied as flat screens, mobile phones, lasers and hybrid cars. Chinese authorities, keen to ensure continuity of supply, are open “to an amicable solution”. China warned its G20 partners in Seoul in mid-November that, for environmental reasons, it had decided to reduce its exports. Community sources have confirmed that Beijing is preparing to soften its position on rare earths. Translating its words into deeds, China has resumed deliveries of rare earths to Japan, according to Japanese sources. Chinese exports of rare earths to Japan stopped very shortly after the collision between a Chinese trawler and Japanese coastguard vessels off disputed islands in the East China Sea, an incident which developed into a diplomatic crisis between the two neighbouring countries. The issue of rare earth minerals will be raised once again by Trade Commissioner Karel De Gucht when he visits Beijing in mid-December. (E.H./transl.rt)