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Premier eFinance: China increases rare earths export quotas but EU still not satisfied.
Even with the increased rare earths export quotas, nearing 2010 levels, the European Union says the measures do not go far enough to address concerns of stable supplies.
By: Premier eFinance
"This is highly disappointing and the EU continues to encourage the Chinese authorities to revisit their export restrictions policy to ensure there is full, fair, predictable and non-discriminatory access to rare earth supplies as well as other raw materials for EU industries,"
China, which currently accounts for about 97% of the world's rare earths output, has set the second batch of quotas at 15,738 tonnes, bringing the full year total to 30,184 tonnes.
The new quota has almost doubled from last year's second batch of export caps of 7,976 tonnes.
The total is however is still lower than that of 2010, when China limited exports of the 17 minerals crucial for global electronics production and the defense and renewable energy industries, to 30,258 tonnes.
"A first analysis of China's rare earth quota announced today shows that there is no noticeable change in the annual amount of rare earths China will allow to be exported to the EU," Clancy told Premier eFinance.
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