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China’s State Council announced the approval of new regulations on the management of rare earth materials, strengthening government control
With the new regulations, Beijing wants to protect its supplies, invoking national security, technological innovation and environmental protection.
That will likely affect the rest of the world as rare earths are essential components in numerous modern technologies, especially electronics used in defence, clean energy and industrial applications. In a bid to tackle that, in April this year the EU signed a deal with Japan aimed at reducing the bloc’s reliance on Chinese exports, with a focus on the development of “advanced materials” in the tech sector, such as those used to create semiconductors and batteries. In 2022, China accounted for 70 per cent of the world’s mined production of rare earths, followed by the US, Australia, Myanmar and Thailand, data from the United States Geological Survey (USGS) shows.
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