News Summary: China defends curbs on rare earths

Published June 20, 2012 4:08pm ET



ENVIRONMENTAL EXCUSE? A China Cabinet official rejected complaints that Beijing is using the environment as an excuse to support fledgling Chinese producers of rare-earth products by limiting supplies to foreign rivals.

RARE COMMODITY: China has about a third of the world’s rare-earth deposits but accounts for over 90 percent of their production. Beijing alarmed global manufacturers by imposing export quotas in 2009.

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