China says it is granting new, streamlined rare earth export licences
Tweet
Share
E-mail
FILE PHOTO: Workers transport soil containing rare earth elements for export at a port in Lianyungang, Jiangsu province, China October 31, 2010. REUTERS/Stringer/File Photo
(Corrects to say Hong Kong media, not state media, paragraph two)
By Joe Cash
BEIJING, Dec 18 (Reuters) - China's Commerce Ministry said on Thursday that it had granted several general licenses for rare earth exports, a new category of permit that aims to speed up shipments of the vital elements.
Responding to a question from Hong Kong media about reports that Beijing had issued some of the licenses for European firms, a ministry spokesperson said applications had been approved but did not specifically mention Europe.
"Some exporters have already preliminarily met the basic requirements for applying for a general license," the spokesperson said at a regular weekly briefing. "As far as I know, some applications for general licenses submitted by Chinese exporters have already been received and approved."
Reuters has reported that suppliers to U.S. automaker Ford have received the new licenses. However, no European company has yet confirmed that they have received one.
European Commission trade chief Maros Sefcovic told Bloomberg television this week the bloc has heard reports of its companies receiving licenses but there were still few details.
(Reporting by Joe Cash; Editing by Himani Sarkar)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Virginia State University shooting leaves five injured, police say
- Xi calls for improving disaster prevention as floods, landslides batter China
- Philippine defence chief rejects China criticism, calls response a 'squid tactic'
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
