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China sets first-half rare earth export quota for 2013

China on Friday announced its export quota for rare earth resources for the first half of next year amid declining prices and weak demand in the global market.

China produces more than 95 percent of the world's rare earths, 17 elements critical to manufacturing everything from iPads to low-emission cars.

The country has set production caps and export quotas on rare earths, saying it aims to protect resources and the environment in an effort to promote sustainable development.

But China's control over the sought-after resources has sparked a dispute with major trading partners.

The government will initially allow exports of 15,501 tonnes of the resources in the first six months of 2013, the Ministry of Commerce said in a statement.

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Dec 30th, 2012 at 03:43:42 PM EST
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