China will reform its export of rare earths based in part on World Trade Organization rules, state media reported today, a day after the global trade governing body ruled against its curbs on exports.
The Ministry of Commerce will study and take steps forward in rare-earth export management, "according to relevant laws and World Trade Organization rules," the official Xinhua news agency quoted China's vice commerce minister, Zhong Shan, as saying.
The WTO ruled yesterday that China broke international law when it curbed exports of coveted raw materials such as bauxite, coke, and magnesium used in the production of steel, electronics, and medicines.
That ruling, initiated by a complaint filed by the United States, the European Union, and Mexico in 2009, was seen as a landmark that could have implications for the legality of China's rare-earth export quotas.
China produces 97 percent of the world's supplies of rare earths, a group of 17 minerals used in electronics and defense and renewable-energy industries. … Read more