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China creates rare earth strategic reserves

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AFP
Feb 9, 2011

BEIJING — China is building up strategic reserves of rare earth metals in a move that could give it better control over the resource so indispensable to high tech products, the Wall Street Journal reported.

Storage facilities have been built in recent months in the northern region of Inner Mongolia with the capacity to hold more than the 39,813 tonnes of the metals China exported last year, the paper said.

But details of the strategic reserves have not been made public, it added on Monday.

China controls about 95 percent of the global trade for the 17 minerals that collectively make up the rare earth metals market.

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This article was posted: Wednesday, February 9, 2011 at 4:45 am





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