China Won't Stop Exports of Rare Earth Products, Ma Kai Says
China Won’t Stop Exports of Rare Earth Products
Nelson Ching/Bloomberg
Neodymium is displayed at the Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. factory in Baotou, Inner Mongolia, China.
Neodymium is displayed at the Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. factory in Baotou, Inner Mongolia, China. Photographer: Nelson Ching/Bloomberg
The “claim that China will stop exports of rare earth is completely groundless,” Ma Kai, a Chinese state councilor, said in a speech today.
“At the same time, we also hope that other countries with rare earth deposits can also produce rare earth to meet global demand,” Kai said in Hamburg following a meeting between German and Chinese business leaders in the German city today.
“The world is not in shortage of rare earth resources -- the problem is in the supply and demand structure,” said Kai. “China accounts for only 36 percent of rare earth deposits, however, we contribute more than 90 percent of the world exports. Many countries also have abundant resources of rare earths but they don’t explore them or export them and rely on imports. Can this be sustained? The answer is no,” he said.
To contact the editor responsible for this story: Niklas Magnusson at nmagnusson1@bloomberg.net
Rate this Page