Recent interruptions in exports of rare earth minerals are due to a sharp cut in export quotas announced last July, argue China and rare earths analysts.
Kyodo News/AP Photo
China sought Wednesday to reassure the world it had not and would not use its chokehold on supplies of critical rare earths for political purposes, and pledged to maintain its exports.
“China will continue to supply rare earths to the world,” the Commerce Ministry said in a faxed statement, denying earlier reports in the official China Daily newspaper that the government planned to cut exports next year by 30 percent.
While insisting that politics is not being played with the class of minerals, the government nevertheless has been cutting exports for the past three years. Rare earth elements are crucial to the manufacture of many high-tech items, from smart bombs to mobile phones to wind turbines. China mines 97 percent of the world’s supply.
In a separate statement, a Commerce Ministry spokeswoman who identified herself only as Ms. Chen denied a report in The New York Times that China had halted shipments of rare earths to the United States and Europe.
“China has not imposed any embargo,” she said. The report followed suggestions last month that China had banned rare earth exports to Japan.
Any recent interruptions in exports of rare earths were due to the export quota cut in July argues Mary Zhang, a rare earths analyst with Asian Metals, a Beijing based market research firm. “Export quotas are very tight,” she says.