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China urges other rare earth nations to boost exploitation

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BEIJING, June 20 (Xinhua) -- China called on other countries with rich rare earth reserves to boost exploitation and increase exports, according to a white paper issued Wednesday.

China, the world's biggest producer of the metals vital for high-tech products ranging from smart phones, wind turbines to electric car batteries, will continue to intensify regulation in the sector while supplying the global market in line with the World Trade Organization rules, said the white paper titled "Situation and Policies of China's Rare Earth Industry."

"China opposes politicizing the rare earth issue, and is willing to strengthen dialogue and cooperation with other rare earth producers and consumers in a constructive and responsible manner, to work together with them in preventing excessive speculation in the rare earth market and solving the resource and environmental problems in the development of the industry," it said.

According to the white paper, the first one China issued on rare earths, the country has been supplying more than 90 percent of the world's rare earth demand, but its reserves only account for 23 percent of the world's total.

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