China bans export of rare earths processing tech
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The news: China has banned the exporting of rare earths processing technologies, used to make electric cars and electronics.
China added the technology to its official list of those restricted from export, saying it was for national security and public interest reasons, according to Reuters.
The context: Western nations have been working on their own rare earths processing technologies to reduce their dependence on China.
Rare earths are 17 metals used to make magnets that turn power into motion for a range of electric and electronic goods.
It was unclear how much processing technology was being exported from China.
The former boss of a rare earths processing company in Estonia, Constantine Karayannopoulos, said China's announcement only formalised what everyone already knew.
What they said: "New technologies will be needed to outmanoeuvre the Chinese grip on these important areas," Ucore Rare Metals chief executive Pat Ryan said.
The source: Reuters
