China alters stance on rare mineral exports
Wednesday, January 7, 2015 - 10:32:11
In a move which could impact the recycling industry, China has been forced to remove quotas limiting the export of precious minerals, which have been in place for the past five years.
With a third of the world’s rarest minerals located within its borders, China is a major hub for extraction and refinement. And all of the smartphones and other electronic devices sold today are, in some way, reliant on this industry.
But now a ruling by the World Trade Organisation has meant that although a license will still be required to export certain minerals from China, there will not be a limit placed on how much of it can end up in the hands of overseas buyers.
Following the implementation of the quotas back in 2009, a number of nations, including Japan and the US, were forced to look into other schemes to try and keep up with the demand for these minerals, of which recycling existing materials was a major part. So from an eco-friendly perspective, this was probably beneficial.
It is not just the mobile phone manufacturers that are reliant on the group of minerals known as ‘rare earths,’ but also firms which make everything from HDTVs to hybrid car batteries, according to the Guardian.
Mobile phones are famed for containing significant amounts of gold and other materials which can be recycled for use in the manufacture of new devices. This is why it is important for users to sell their old smartphones to recycling companies, so that they can be reused or reconstituted in an efficient way.
It is too early to judge the impact of this removal of quotas, but the economic might of China is sure to cause more changes in the tech industry over the coming years.
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