China is studying the impact that restrictions on exports of rare earth minerals could have on the military industry in Europe and the United States, the Financial Times said Tuesday, citing multiple sources familiar with the matter.
China’s Ministry of Industry and Information Technology last month publicly solicited comments on the Rare Earth Management Regulations, noting that the government will study the drafting of total rare earth mining targets and total rare earth smelting and separation targets, as well as the convergence of laws and regulations such as import and export management.
The report cited a Chinese government adviser who declined to be named as saying authorities want to know if China’s restrictions on exports of rare earth minerals would prevent the U.S. from building the F-35 fighter jet. Some industry executives said Beijing authorities want to further assess how quickly the U.S. can obtain rare earth minerals from elsewhere and boost its own production capacity.
China controls about 80 percent of the world’s supply of rare earths, and the U.S. has long relied heavily on imports for many key minerals. Some public opinion suggests that China may restrict rare earth exports at a critical Time to counter U.S. sanctions against China.
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