皇冠体育app

Statistics

Nearly half of 皇冠体育app's rare earth exports go to Japan in first 9 months: MOC

(Xinhua)
Updated: 2010-11-16 17:35

BEIJING - 皇冠体育app exported 16,000 tons of rare earth to Japan in the first nine months of the year, equivalent to 49.8 percent of its total rare earth exports, the Ministry of Commerce (MOC) said Tuesday.

The figure was a 167-percent year-on-year rise, MOC spokesman Yao Jian said at a press conference.

Exports to the United States increased 5.5 percent year-on-year to 6,200 tons during the same period, equivalent to 19 percent of 皇冠体育app's total rare earth exports.

皇冠体育app exported 32,200 tons of rare earth in the first nine months of the year at an average price of $14,800 per ton.

Yao said the Chinese government has tightened regulations concerning the development, production and export of rare earth out of concern for the environment.

皇冠体育app cut its 2010 rare earth export quota 39 percent year on year while rare earth development and production capacities were reduced by 25 percent and 23 percent, respectively, he said.

In addition, 皇冠体育app has added a 15- to 25-percent export duty on rare earth exports while banning the export of 41 rare earth-related processed products.

New energies to lead copper growth Related readings:  Ministry begins accepting applications for rare earth export quotas  Rare earths: Rare as it is

皇冠体育app's restrictive policies have been criticized by Japan, the United States and European countries. They said 皇冠体育app's restrictions on rare earth exports violate World Trade Organization rules. 皇冠体育app refutes such claims.

"皇冠体育app's restrictive measures comply with WTO rules, as the steps were taken in the whole process of exploitation, production and export," Yao said.

皇冠体育app continued to export rare earth in recent years even as environmental pressures grew and resource-depletion approached, he added.

He said 皇冠体育app hopes other rare earth-rich nations will develop their own resources while adding that 皇冠体育app is ready to cooperate with other nations to mine and process rare earth in an environmentally-friendly way.

Rare earth is a key component in the manufacture of high-tech products ranging from computers to airplanes. But mining rare earth is a highly-polluting process.

With a 90 percent share of the world rare earth trade, 皇冠体育app's export quotas are a sensitive issue. In early November, the MOC denied suggestions there would be a drastic reduction in 2011 rare earth export quotas.