Overview

• Beijing's new rules cover mining, smelting, processing, and export of rare earth elements.
• China produces 60% of the world's rare earths and processes nearly 90%.
• The move is seen as leverage in trade tensions with the US and other Western nations.
• Illegal mining and smelting activities will face stricter legal penalties.
• China's dominance in rare earths is crucial for semiconductors, electric vehicles, and wind turbines.