Chinese Resources Restrictions Intesifies
From Bloomberg - June 29, 2010
Bloomberg reports that China, facing a trade probe by the World Trade Organization on raw material export constraints, will continue to curb shipment and production of minor metals to conserve resources and limit pollution, an official said.
Affected minerals identified by Zhang Fengkui at the Ministry of Information Technology and Industry include molybdenum, tungsten and vanadium. China is under investigation by the World Trade Organization to determine whether these policies give Chinese companies an unfair advantage.
According to Ma Quanzhi, deputy general manager of Asia’s largest producer of molybdenum, China produces 37% of the worlds supply of that mineral.
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