EU plans to end its dependence on China for rare earths

BRUSSELS, Belgium, Dec 3 (AFP): The EU on Wednesday releases its plan to try to end the 27-nation bloc's dependence on China for rare earths, as Beijing's stranglehold threatens key industries.

China, the world's top producer of rare earths, in October announced new controls on the export of the elements, which are used to make magnets crucial to the auto, electronics and defence industries.

The move rattled markets and snarled supply chains until China later said it would suspend the curbs for one year.

Already since April, Beijing has required licences for certain exports of the materials, hitting global manufacturing sectors.