Beijing has decreed that rare earths belong to the state under new rules said to be aimed at protecting supplies in the name of national security, but which will be seen as another shot in the ongoing tech wars with the United States.
Why China's Rare Earth Control Matters | FT
The Chinese government has approved new rules for mining, smelting and trading so-called rare earths, which include critical minerals used in cutting-edge semiconductors, electric vehicles and wind turbines.
According to reports, the rules define rare earths – a group of 17 minerals – as the property of the Chinese state, insisting that no organization or individual can lay claim to them.
The official state news agency Xinhua News Agency said Premier Li Qiang of the State Council signed the order on June 29, which will take effect on October 1.
