China says it is granting new, streamlined rare earth export licences

China says it is granting new, streamlined rare earth export licences

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 state 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)

 

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