China issues new regulations on rare earth administration
30 June 2024
Chinese Premier Li Qiang signed a decree of the State Council, unveiling a set of regulations on rare earth administration. The regulations, which will take effect on 1 October, stipulate that the country will pay equal attention to resource protection as well as development and utilization of rare earths, following the principles of making overall planning, ensuring security, and boosting technological innovation and green development.
In other words, as the Nikkei notes China is saying rare earths belong to state.
The country will promote the high-quality development of the rare earth industry, and encourage the research, development and application of new technologies, new materials and new equipment, according to the regulations.
The regulations specify punishment for illegal activities in areas including rare earth mining, smelting and extraction, product distribution, as well as unlawful imports and exports.
We have lots of rare Earth elements in the United States our capitalist corporations won't refine them because it's not profitable, China does things that are in the good of the country we need to learn the lesson about this.
Posted by: SJC | 30 June 2024 at 06:22 AM
Meh. China will continue to isolate itself, losing technological advantage, ostracizing potential G7 and EU customers, and be increasingly unable to steal ideas and engineering progress going forward. Their non-private industries will continue to be inefficient, unclean, and questionably competent -- they are only shooting themselves in the foot. Access to various critical elements is increasingly widely available around the world. Besides, most mining and other exploitive practices are restricted by NIMBYism and the EPA in the US, vastly emasculated recently and in the coming Republican years.
Posted by: Jer | 01 July 2024 at 08:09 AM