The rare earth battle continues!

 "China will further regulate rare earth exports and crack down on smuggling of rare earth minerals, Commerce Ministry spokesman Yao Jian said at a press conference Thursday."


The comment comes a day after China's State Council, or the Cabinet, said China will look to streamline its rare earth industry over the next five years.

China should accelerate industrial upgrading and technological innovation to protect the environment and save resources, according to a statement released after a State Council executive meeting on Wednesday.

The industry should maintain rational production and inventory control, make better use of domestic and overseas markets and resources, and seek active international cooperation so it develops in a healthy and sustainable way, according to the statement.

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