Zhu Hongren, Chief Engineer and spokesman for the Ministry of Industry and Information, recently stated that China is not using rare earth minerals as a bargaining tool. Instead, he said, China would like to achieve a win-win situation with other countries on the protection and utilization of these non-renewable natural resources. China holds 55.7% of the world’s reserve of rare earth minerals. China’s exports are the source of 90% of the international market. Zhu suggested that China did not do a good job of managing the production process in the past, especially in terms of environmental protection. Now China is controlling the mining, manufacturing, and trade areas to introduce order into the management process. He claimed that these steps do not violate WTO rules.
Source: Xinhua, October 28, 2010