Beijing, 9 APR (EFE).-China has founded the “National Association of rare land” to monitor the production of these elements and improve the communication of the parties involved in the exploitation and sale of the same, today the newspaper “New Beijing”.
According to the newspaper, the association – formed by 155 companies – also has the mission to investigate the rare earths sector, provide guidance on production, offer intermediation services, alert on trade disputes and defending the companies involved.
Thirteen of the most important companies in the rare earths sector initiated the formation of the Association, include the China Aluminum corporations, China MinMetals and the Nonferrous Metal groups and Baotou Steel Rare-Earth Hi-Tech co., the largest producer of these raw materials of China.
The Chinese expert in analysis of rare earths, Yu Zequan, told the newspaper that these elements “have not yet received the positioning suitable as strategic metals in the market” and estimated that the exploitation of rare earths is something that “is must handle with care”.
Yu added that it should “improve production in the sector”, for the formation of this Association, whose formation has been debated for five years, and will influence important issues such as the appointment of these metals prices and the share of exports of these what consider to be optimal.
Its foundation occurs after weeks of us – backed by the European Union and Japan – announced the opening of a “request for consultations” with China within the WTO by the restrictions imposed by the Asian power to these mineral exports, accusations that Beijing described as “unfounded” formal
The Chinese Government argued then that the limitations on the export of these materials are due to “environmental reasons”.
China has the monopoly in the sector – vital for military and technological industries – rare-earth, because, despite housing only 36.4 percent of reserves of rare earths in the world, exporting 90 percent worldwide.
Much of the world’s reserves are in the autonomous region of Mongolia Interior (North), but there are also deposits in countries like USA, India or Brazil.
These elements are used in many high-tech industries such as telecommunications, wind energy, automotive or the manufacturers of armament. EFE
