New rules regulate rare earth industry

'Reasonable' export quotas sought to boost sustainable development

BEIJING - The government will impose stricter mining policies and environmental standards for rare earths and set "reasonable" annual production and export quotas to further regulate the crucial sector, the State Council said on Wednesday.

Rare earth metals are comprised of 17 minerals and some are used in high-tech industries ranging from hybrid cars to missiles. China produces more than 95 percent of the world's total supply although it has only about 30 percent of global reserves.