China Bans Export of Rare Earth Processing Technology
Move expected to impact global supply of strategic metals, as China controls around three-quarters of rare earth production.
- China, the world's leading processor of rare earths, has banned the export of technology to extract and separate these strategic metals.
- The ban is expected to have the biggest impact on 'heavy rare earths,' used in electric vehicle motors, medical devices, and weaponry, where China has a virtual monopoly on refining.
- Rare earths are a group of 17 metals used to make magnets for use in electric vehicles, wind turbines, and electronics. China currently controls around three-quarters of rare earth production.
- Western countries are increasingly treating the supply of these metals as a matter of national security, especially as the global energy transition is fueling fears of potential shortages.
- The move comes as Europe and the United States scramble to wean themselves off rare earths from China, which accounts for 90% of global refined output.