China has issued the first batch of new rare earth export licences that could accelerate shipments to certain customers, reports Reuters. The approvals come after months of disruption triggered by China’s introduction of rare earth export controls in April at the height of the trade war.
The new general licences are designed to ease that pressure by allowing more exports under year-long permits for individual customers, and were a key outcome of the Trump-Xi summit.
Chinese magnet maker JL Mag Rare Earth has received general licences for nearly all of its clients, while Ningbo Yunsheng and Beijing Zhong Ke San Huan High-Tech have secured licences for some of their clients, a source told Reuters.