China set up a new agency control of rare earth production

According to foreign media reports, China 's rare earth production quotas , mining licenses and other policies will be a new institution to develop and adjust .

It is reported that China's official Xinhua News Agency also published this media reported that this new body will be Chinese Ministry of Industry and Information Technology leadership .

It is understood that China controls about 80% of the world's rare earths . Chinese government says the industry divided, plagued by smuggling .

It is reported that the rare earth from mobile phones to be used for manufacturing a range of products such as missile systems .


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