EU says must 'step up' against China rare earths 'racket'
The Peninsula
Strasbourg, France: The European Union must ramp up efforts to break its dependence on China for rare earths faced with export curbs that amount to a...
Strasbourg, France: The European Union must ramp up efforts to break its dependence on China for rare earths faced with export curbs that amount to a "racket" by Beijing, the bloc's industry chief Stephane Sejourne said Tuesday.
China, the world's top producer of rare earths, in October announced new controls on the export of the elements, used to make magnets crucial to the auto, electronics and defence industries.
The move rattled markets and snarled supply chains until China later said it would suspend its curbs for one year.
Already since April, Beijing has required licences for certain exports of the materials, hitting global manufacturing sectors.
Sejourne has been preparing a plan to end the 27-nation bloc's dependence on China that will be announced on December 3.
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