• 4 minutes Pompeo: Aramco Attacks Are An "Act Of War" By Iran
  • 7 minutes Who Really Benefits From The "Iran Attacked Saudi Arabia" Narrative?
  • 11 minutes Trump Will Win In 2020
  • 15 minutes Experts review Saudi damage photos. Say Said is need to do a lot of explaining.
  • 4 hours Ethanol is the SAVIOR of the Oil Industry, Convenience Store Industry, Automotive Supply Chain Industry and Much More!
  • 3 mins Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 4 hours Instagram Now Banning Photos Of People At Gun Ranges, Claiming They Promote "Violence"
  • 1 min Let's shut down dissent like The Conversation in Australia
  • 22 hours Hong Kong protesters appeal to Trump for support.
  • 10 hours Famous Manufacturer of Anti-Ethanol Additives Proves Ethanol's Safety and Benefits
  • 15 hours Collateral Damage: Saudi Disruption Leaves Canada's Biggest Refinery Vulnerable
  • 22 hours Saudi State-of-Art Defense System looking the wrong way. MBS must fire Defense Minister. Oh, MBS is Defense Minister. Forget about it.
  • 12 hours One of the fire satellite pictures showed what look like the fire hit outside the main oil complex. Like it hit storage or pipeline facility. Not big deal.
  • 7 hours US and China are already in a full economic war and this battle for global hegemony is a little bit frightening
  • 12 hours Trump Accidentally Discusses Technology Used In The Border Wall
  • 15 hours Iran in the world market
Alt Text

Chinese Rare Earth Exports Tumble As Trade War Accelerates

China, the world’s largest producer…

Alt Text

Vanadium Spikes On New Chinese Regulations

A new regulatory measure in…

Alt Text

Investors Return To Plowing Money Into Commodities

Commodities are trending once again…

EcoSeed

EcoSeed

Ecoseed’s mission is to provide global, complete, innovative, and up to date news, information, resources, and opportunities, catalyst to incorporate environmental awareness and responsibility into…

More Info

Premium Content

China's Rare Earth Industry Coming under Greater Environmental Scrutiny

China is planning to launch environmental checks for the rare earth industry this year to ensure environmental protection – a move that has been met with criticism from the local industry.

According to a statement made by the Ministry of Environmental Protection last April, China plans to launch a string of environmental checks for the rare earth industry that will impose higher environmental standards on them, reported China Securities Journal.

The ministry noted that local environmental departments will not approve environmental evaluation reports for new projects by companies that cheat or do not pass the checks.

These checks will include self-checks by the companies themselves, preliminary checks by provincial environmental protection authorities, and final checks by the ministry.

In anticipation of its launch, the industry is reportedly busy upgrading their production equipment and installing environmental protection systems to meet the future standards to be set by the country. The deputy secretary-general cited that recent price hikes in rare earth metals provided companies with the capital to upgrade their production techniques.

However, according to industry representatives, the effects of the environmental protection checks might be weakened as the ministry has not issued detailed penalty rules and that these measures taken by the government barely poses a threat to those companies that have no plan to expand production or go public.

In addition, they pointed out that the ministry has yet to standardize pollutant discharge techniques of the rare earth industry. This lack of authoritative instructions may also lead to an adverse impact on the effects of the checks.

These rare earth minerals, which are often used in smart phones and hybrid vehicles, cause heavy environmental pollution due to exploration methods.

Earlier this month, the Ministry of Industry and Information Technology responded to allegations that the Chinese government was manipulating rare earth prices, with Zhu Hongren, the chief engineer and spokesman for the ministry, saying that the prices were formerly low and are now just reflecting market conditions, reported China Daily.

The chief engineer said that it was a misunderstanding that Chinese government manipulation had caused the surge in prices.

When it comes to world supply of rare earth minerals, China supplies more than 90 percent of them, but controls only about 36 percent of the world’s deposits.

Industry experts said that more and more countries are exploring their own supply of rare earth metals – a solution that can help ease tight-supply situations and ease demand. (L.J. Polintan)

By. Ecoseed




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play