China cuts rare earths mining permits by 40%
BEIJING (AP) - China's government has cut the number of permits issued for rare earths mining in a new move to tighten controls over the exotic minerals needed to manufacture mobile phones and other high-tech goods.
State television on Wednesday said the Ministry of Land and Resources will cut the number of mining permits by 40 per cent from 113 to 67.
The report gave no indication how that was expected to affect the amount of rare earths produced.
China has about 30 per cent of the world's rare earths deposits but accounts for more than 90 per cent of production.