The government is studying a plan to build strategic reserves for 10 rare metals, namely rare earth, tungsten, antimony, molybdenum, tin, indium, germanium, gallium, tantalum and zirconium, according to today's Shanghai Securities News.
China is rich in some of the 10 rare metals, such as rare earth, tungsten, and antimony, but it has neither properly exploited nor economically used these resources over the past many years. The long-standing unlicensed exploitation, indiscriminate mining and serious waste of resources have caused serious damage to ecosystems near mines.
Rare metals are of increasing strategic importance to industrial development. Since the beginning of 2010, the Ministry of Industry and Information Technology, Ministry of Land and Resources and local governments have introduced a number of measures to enhance concentration of production and to increase integration of metal resources, such as rare earth, tungsten, antimony, molybdenum and tin.
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