The country controls 95 percent of the world’s rare-earth metal production, which are used in a number of applications — including the development of smartphones and mobile devices, defense systems and wind turbines.
The WSJ reports that this majority control, which affects mainly developers of tech products, has been a cause for concern internationally. Governments as well as individual corporations have maintained pressure on Beijing to loosen its grip, and now limits on these key minerals have been lifted.
The full year quota will now be set at 30,996 metric tons; 2.7 percent higher than last year. China generally runs exports in two batches, and so the second batch this year will be boosted to 8,537 tons of light rare earth minerals and 1,233 tons of medium to heavy metals.
Source: ZDNet