Rare Earth Minerals Export From China to Reduce

Controlling 97 percent of the global production of rare earth minerals, China announced the reduction of its exports in 2011 by more than 10 percent.

The new numbers say China is allocating 14,446 tons (13,105 metric tons) of rare earths among 31 companies. China allocated 16,304 tons (14,790 metric tons) among 22 companies in the first batch of quotas this year.

China has been reducing export quotas of rare earths over the past several years to cope with growing demand at home.

Rare Earth minerals are essential in making devices such as cell phones, computer drives and hybrid cars.