China to regulate rare earth exploitation more strictly
BEIJING, Jun 19, 2012 (Xinhua via COMTEX) --
China will implement stricter
environmental standards for rare earth exploitation while
continuing to regulate the mining, production and export of the
valuable resources, a government white paper said Wednesday.
China will "implement stricter standards for ecological
protection and protective exploitation policies concerning rare
earth resources," according to the white paper titled "Situation
and Policies of China's Rare Earth Industry."
The white paper, the first of its kind on China's rare earth
industry, was published by the Information Office of the State
Council, or China's cabinet, on Wednesday.
The government will improve relevant laws and regulations and
crack down on all violations, the white paper said.
"Synchronized administrative measures" will be taken on rare
earth mining, production and export, while international exchanges
and cooperation will be encouraged, it said.
China is the world's largest producer of rare earths, a group
of 17 metals vital for manufacturing products ranging from smart
phones, wind turbines, electric car batteries to missiles.
The white paper said the country aims to build a regulated and
orderly system of rare earth exploitation, production and market
circulation "within a short period of time."
The ecological environment in key areas should be effectively
restored during that period while merger and reorganization will
be pushed forward in the rare earth industry, it said.
The government targets "a unified, standardized and highly
efficient administrative system" for the industry and "a healthy
development pattern featuring rational ming, orderly production,
efficient utilization, advanced technology and intensive
development," according to the white paper.
[ Back To Financial Technology's Homepage ]