China quietly lifts its rare earth export quotas

Tokyo

A LOW-PROFILE announcement by China on New Year's eve - that it had abandoned export quotas on "rare earths" - has had powerful significance for Japan and other industrial nations, which have been scrambling for alternative supply sources for several years.

Energy media group Platts reported that the announcement, contained in a Chinese Ministry of Commerce publication on Dec 31, attracted global attention only on Tuesday, underscoring the critical importance of these minerals, which are used in a variety of high-tech and strategic applications.