China, the world’s leading processor of rare earth metals, has implemented a ban on the export of technology used in the extraction and separation of these strategic metals. The move is part of China’s efforts to control key technologies deemed crucial for national security. Additionally, the export of production technology for rare earth metals and alloy materials, as well as certain rare earth magnets preparation technology, has been prohibited.
This decision has implications for global supply chains, particularly as Europe and the United States aim to reduce dependence on Chinese rare earths, which constitute 90% of global refined output. Rare earths are vital for various technologies, including electric vehicles, wind turbines, and electronics.
Source: ChennaiOnline.com