THE government said Tuesday rare earth exports rose 14.5 percent in the 11 months of last year to November as prices more than doubled, with most of the shipments going to Japan, Europe and the United States.
Exports of the minerals 17 elements vital to everything from iPods to wind turbines hit 35,000 tons for the January-November period, the commerce ministry said, exceeding the government s full-year quota of 30,300 tons.
China will continue to supply rare earths to the international markets and manage rare earth export quotas according to rules of the World Trade Organization, Commerce Ministry spokesman Yao Jian told a regular briefing.
Yao did not explain how exports exceeded the 2010 quota but it is possible that leftovers from the 2009 allotment were sold last year.
The value of the exports soared 171 percent from a year earlier as prices for the minerals jumped by around 130 percent, Yao told reporters.
Shipments to Japan, the European Union and the United States who have been vocal critics of China s rare earth export restrictions made up 86 percent of total exports in the period, he said.
China, with one-third of reserves of the minerals, produces about 97 percent of the global supply. It cut export quotas for the minerals by 40 percent last year.
It has cut export quotas for the first half of 2011 by 35 percent from the first half of last year, although total quotas for this year have not yet been announced. The government says the quota cuts will prevent reckless and polluting mining of deposits.
Yao reiterated that the government had yet to decide full-year quotas for rare earth, but said the 2011 full-year quota would be announced in a timely manner.
He also welcomed moves by the United States and Australia to increase their own production of rare earths, something which has picked up pace since China began cutting its exports.
This will effectively safeguard global supplies, Yao said.
China is also stepping up its controls over rare earths mining and plans to release new industry standards to combat the extremely polluting practices of its miners.
The Ministry of Land and Resources said Monday that it would set up special zones to better regulate rare earth mining.
(SD-Agencies)
