 "Miners are seen at the Bayan Obo mine containing rare earth minerals, in Inner Mongolia, China. File image/ Reuters")
China has suggested developing a “green channel” to facilitate rare earth exports to the European Union, the commerce ministry announced Saturday, after Beijing restricted their sale abroad.
Since April, Beijing has asked for licences to export these key commodities from China, which accounts for more than 60% of rare earth mining production and 92% of worldwide refined output, according to the International Energy Agency.
The metals are used in a broad range of goods, including electric vehicle batteries, and industry leaders have criticised China’s licensing process.
“Export control on rare earths and other items is an international practice,” the commerce ministry said in a statement.
“China attaches great importance to Europe’s concerns and is willing to establish a green channel for eligible applications, fast track the examination and approval, and instruct the working level to maintain timely communication on this,” a ministry statement said.
The comments were attributed to China’s Commerce Minister Wang Wentao, who met Tuesday with EU trade commissioner Maros Sefcovic.
During the bilateral talks, Wang said he hoped the bloc would in turn “take reciprocal action, adopt effective measures to facilitate, safeguard, and promote compliant trade of high-tech products with China,” according to the commerce ministry.
The two officials also discussed imports by European countries of Chinese electric vehicles, which the EU has hit with levies over allegedly unfair subsidies from Beijing.
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More Shorts“The negotiation on the price commitment of electric vehicles between China and Europe has entered the final stage, but both sides still need to make efforts,” the commerce ministry said.
The discussions will be followed by China hosting a summit with the EU next month, 50 years since Beijing and Brussels established diplomatic ties.