Reported 12 months ago
China has released new regulations to safeguard the national supply of rare earth elements, declaring that these resources are state-owned and outlining rules for their mining, smelting, and trade. The regulations, effective from October 1, require the establishment of a product traceability system and accurate record-keeping by enterprises involved in the rare earth industry. These regulations come as China, the world's leading producer of rare earths, faces increasing demand globally, particularly from the EU for its green technology needs, prompting concerns about the impact on international relations.
Source: YAHOO