China Vows to Maintain Rare Mineral Supply
The Chinese Commerce Ministry denied reports that it would further reduce export quotas.
"China will continue to supply rare earth to the world," the ministry said in a fax to Bloomberg News.
The country spurred international trade tension when it cut its export quota for the second half of this year by 72%.
The Chinese government said it was simply trying to restrict environmental damage and stimulate value-added industries.
"To protect exhaustible resources and ensure sustainable development, China will continue to implement restrictions on the mining, production and export of rare earth," the Commerce Ministry said.