The State Council said in a statement on its website that rare earths are state property and no organisation or individual can claim them.
 "China tightens control over rare earths, approves new regulations")
China's new rules on rare earths will take effect on Oct. 1. (File photo of Chinese President Xi Jinping) Bloomberg Beijing
China has strengthened its control over its rare earth industry, approving the first comprehensive regulations governing mineral mining, metal refining and distribution.
The State Council said in a statement on its website that rare earths are state property and no organization or individual can claim them. The state is responsible for safeguarding mining of the resources. The new rules will take effect on October 1.
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He added that government agencies will control the total amount of rare earth elements mined and smelted and establish a product tracking system. The regulations also stipulate penalties for any illegal activities related to mineral production.
China has long held a near monopoly on supplies of rare earths, lithium, graphite and other refined products that are vital to high-tech manufacturing and the green energy transition. The country accounts for about 70% of global rare earth production. It has been consolidating its mining assets, merging several major producers to form China Rare Earth Corp in 2021.
