China Approves Rare Earth Exports for Civilian Use, Global Supply Impact Expected

• China announced it will approve the export of Rare Earth Metals for civilian use, following India's continuous demands.
• Chinese spokespersons clarified that export controls are legal, not targeting any single country, and aim to maintain global stability.
• Applications for civilian use exports that comply with regulations will be approved timely, according to China's Foreign Ministry.
• China controls about 70% of global rare earth mining and 90% of its processing, making it a dominant player.
• This move could ease supply for major importers like India, the United States, and the European Union, impacting global industrial chains.

Why It Matters: China's decision to approve civilian rare earth exports could stabilize global supply chains and ease tensions.