Quotable

Rampant illegal mining, black market dealing and smuggling have seriously disrupted the rare earths market and led to a nosedive in prices of the resources in China."

Jia Yinsong, who is in charge of the Rare Earth Office of the Ministry of Industry and Information Technology, said at the ongoing Sixth Baotou China Rare Earth Industry Forum. Illegal mining, production and sales of rare earth materials have taken the shape of a "black interest chain," he said. Rare earths, a class of 17 mineral elements, are some of the most sought-after metals due to their vital role in green technologies such as wind turbines and car batteries, as well as in military sectors. With its rare earth reserves accounting for 23 percent of the global total, China supplies about 90 percent of the world's market demand at the cost of causing much pollution.