New Regulations --- "Milestone" for Rare Earth Industry

China's approval of major regulation on rare earth elements is of strategic significance for promoting the green and high-quality development of the industry amid growing demand for rare earth raw materials in emerging industries such as new energy vehicles, industry experts and corporate executives said on Sunday.

Their comments came after China approved new rules on the mining, smelting and trade of rare earth metals and alloys, chemical elements that are essential for low-carbon technologies such as electric vehicle production, as well as the manufacturing of smartphones and other advanced high-tech products.

The regulation, issued by China's State Council, said the country encourages and supports the research, development and application of new technologies, products, new materials and new equipment in the rare earth industry.

Under the new regulations, which will take effect on October 1, the Chinese government will implement a "unified plan" for the development of the rare earth industry, and adhere to the equal emphasis on resource protection and development and utilization.

Ge Honglin, secretary of the party group and president of the China Nonferrous Metals Industry Association, said rare earth elements are known as "industrial vitamins" and are important raw materials for high-tech industries and the defense industry. These metals and alloys play an irreplaceable role in promoting the country's new industrialization process.

"China's rare earth industry faces challenges in terms of protective resource development, original technological innovation and industry order supervision," Ge said, adding that the new regulations address these challenges.

Ge said China has been making significant contributions to meeting domestic and international demand for these key chemical elements, which in turn has put considerable pressure on the country's natural resources.

Last year, China accounted for about 60% of the world's rare earth mining, and nearly 90% of rare earth processing and refining, according to the International Energy Agency.

Ge said the new regulations emphasize the need for protective resource development and call for planned use of rare earth elements to promote the green and high-quality development of the industry. The regulations also outline penalties for illegal mining of rare earth elements.

These materials belong to the state, and any organization or individual who obtains them through illegal means will be punished.

The regulations propose a rare earth element tracking system. Companies involved in rare earth element mining, smelting and separation, and the export of rare earth products must now establish a system to record the flow of their products.

• Previous Post

  Electronics

• Next Post

  Medical