CHINA has granted export licences to rare-earth suppliers of the top three US automakers, according to two sources familiar with the matter, reports Reuters.
At least some of the licences are valid for six months, the two sources said, declining to be named because the information is not public.
It was not immediately clear what quantity or items are covered by the approval or whether the move signals china is preparing to ease the rare-earths licencing process, which industry groups say is cumbersome and has created a supply bottleneck.
China's decision in April to restrict exports of a wide range of rare earths and related magnets has tripped up the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world.
China's dominance of the critical mineral industry, key to the green energy transition, is increasingly viewed as a key point of leverage for Beijing in its trade war with US President Donald Trump.
China produces around 90 per cent of the world's rare earths, and auto industry representatives have warned of increasing threats to production due to their dependency on it for those parts.
SeaNews Turkey
At least some of the licences are valid for six months, the two sources said, declining to be named because the information is not public.
It was not immediately clear what quantity or items are covered by the approval or whether the move signals china is preparing to ease the rare-earths licencing process, which industry groups say is cumbersome and has created a supply bottleneck.
China's decision in April to restrict exports of a wide range of rare earths and related magnets has tripped up the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world.
China's dominance of the critical mineral industry, key to the green energy transition, is increasingly viewed as a key point of leverage for Beijing in its trade war with US President Donald Trump.
China produces around 90 per cent of the world's rare earths, and auto industry representatives have warned of increasing threats to production due to their dependency on it for those parts.
SeaNews Turkey
