China scraps quotas on rare earths after WTO complaint (BBC)
China has scrapped its quota system restricting exports of rare earth minerals after losing a World Trade Organisation (WTO) case.
Beijing imposed the restriction in 2009 while it tried to develop its own industry for the 17 minerals, which are crucial to making many hi-tech products, including mobile phones.
Last year, a WTO panel ruled that China had failed to show the export quotas were justified.
China dominates rare earth production.
It is estimated to be responsible for 90% of its production, despite only having a third of the world's deposits.
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more: http://www.bbc.com/news/business-30678227
Rare earths are crucial for small, high-flux magnets which lead to more efficient electric motors. This is good news for anyone with a stake in electric vehicles.
