MOFCOM Restricts Rare Earth Exports for Protecting Environment
[2010-10-19 08:53:33]
With respect to China's rare earth exports which is of international media attention, Yao Jian, spokesman with the Ministry of Commerce of the People's Republic of China (MOFCOM) indicated on Oct. 15, 2010 that, in accordance with the Mineral Resources Law of the People's Republic of China and the Foreign Trade Law of the People's Republic of China, China recently adopted necessary restrictive measures upon the mining, production, and export of rare earth, the core goal is to protect the environment and achieve sustainable development.
Since China's level of economic development is relatively lagged behind, the early production, processing and management concerning the export of rare earth were not standardized and the low level of processing technology of rare earth caused a large number of environmental issues.
At present, China's rare earth reserves account for 30% of the world, but the export quantity accounts for more than 90% of the global trade volume.
Since China's level of economic development is relatively lagged behind, the early production, processing and management concerning the export of rare earth were not standardized and the low level of processing technology of rare earth caused a large number of environmental issues.
At present, China's rare earth reserves account for 30% of the world, but the export quantity accounts for more than 90% of the global trade volume.
Source: ETCN
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