US gets Chinese assurance on rare earths
Sunday, 31 October 2010
BEIJING, Oct 30 (Commodity Online): In an attempt to boost its tarnished image over rare earths exports to needy countries, world's largest rare earths producer, China Saturday assured the US of enough supply of the commodity.
During a meeting with her Chinese counterpart, US Secretary of State Hillary Rodham sought clarification on the Chinese government's policy on the export of rare earth minerals and received assurances.
China this week said it would not use the exports of rare earth minerals as a political bargaining chip with other countries.
Recent Chinese restrictions on the sale of rare earths have drawn international concern and prompted calls for nations to diversify the production of the minerals, which are needed to produce items such as cell phones, missiles and solar energy panels.
China now produces 97 per cent of the world's supply after most of the industrialized world, including the United States, Japan and Europe, largely abandoned their production in favor of cheaper Chinese exports.
Earlier, Clinton said Chinese export restrictions imposed on Japan in the midst of a deepening territorial dispute were a wake-up call for the world to find additional sources of rare earths.
Japan said China has blocked rare earths shipments to Japan since Sept 21 after a Chinese fishing boat captain was detained near disputed islands.
During a meeting with her Chinese counterpart, US Secretary of State Hillary Rodham sought clarification on the Chinese government's policy on the export of rare earth minerals and received assurances.
China this week said it would not use the exports of rare earth minerals as a political bargaining chip with other countries.
Recent Chinese restrictions on the sale of rare earths have drawn international concern and prompted calls for nations to diversify the production of the minerals, which are needed to produce items such as cell phones, missiles and solar energy panels.
China now produces 97 per cent of the world's supply after most of the industrialized world, including the United States, Japan and Europe, largely abandoned their production in favor of cheaper Chinese exports.
Earlier, Clinton said Chinese export restrictions imposed on Japan in the midst of a deepening territorial dispute were a wake-up call for the world to find additional sources of rare earths.
Japan said China has blocked rare earths shipments to Japan since Sept 21 after a Chinese fishing boat captain was detained near disputed islands.