Officials Say China's Rare Earth Reserves Will Only Last 20 Years &Nbsp, Which Will Reduce Export Quotas.

China Daily News reported in October 19th: China's commerce ministry official told reporters recently that China is currently in the middle. Rare earth resources Very cherished, and will be further reduced next year. Export quotas The reduction should not exceed 30%.

China is facing rare earth resources, according to an official who does not want to be named by the foreign trade division of the Ministry of Commerce. Over exploitation China is already aware of the importance of protecting its rare earth resources. Next year, it will adopt a policy of further reducing export quotas.

As a country that supplies 90% of the world's metal output, China will cut export quotas in the second half of 2010 by 72% and reduce output.

The Japanese ambassador to China recently summoned ambassadors from the United States, Britain, Germany, France and South Korea to China, claiming that China's rare earth export regulations had "problems" and tried to combine these countries to exert pressure on China to relax restrictions on China's export restrictions on rare earths.

China's Ministry of Commerce, 15, said that China's management measures for mining, processing and export of rare earth elements are in line with international norms and WTO rules. China will not export rare earth exports as a means of blockade.

Since the beginning of this year, the two batch of export quotas for general trade of rare earths issued by the Ministry of Commerce has reached 24281 tons, and export volume still ranks first in the world. In recent years, China has taken necessary management and restrictions on the rare earth industry in accordance with domestic laws and regulations. Its core purpose is to protect the environment and achieve sustainable development.

Chao Ning, director of the industrial products division of the Ministry of foreign trade of the Ministry of Commerce, said at the annual meeting of China International Silver held in Beijing yesterday that China's existing rare earth resources can only maintain the demand of 15 to 20 years, and may need to be imported. China's rare earth reserves dropped 37% from 1996 to 2009, leaving only 27 million tons. According to the current production rate, China's heavy and medium sized rare earth reserves can only last 15 to 20 years, and may need to be imported.