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China’s Mining Resources Depleted

in International Business

China’s Mining Resources Depleted

China has warned that its rare earth reserves in major mining areas have been declining, as most of the original resources are depleted.

Rare earth elements (“REEs”) or rare earth metals are a set of seventeen chemical elements in the periodic table, specifically the fifteen lanthanides plus scandium and yttrium.

The elements are used to make electrical goods ranging from MP3 players to mobile phones, flatscreen TVs and hybrid batteries.

With those products becoming increasingly popular, the demand for rare earths has been rising.

China’s cabinet blames excessive exploitation and illegal mining for the decline and has urged to boost production of rare earth elements.

China has also imposed quotas on the export of these elements to prevent excessive mining.

In a policy paper, China delcared that it would implement “stricter standards” and “protective exploitation policies” to ensure sustained growth of the sector.


Tags assigned to this article:
China miningChina rare earth metals

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