China, the world's top processor of rare earths, banned the export of technology used to extract and separate critical minerals, according to reports by international media outlets on Thursday.
The ban comes after the country's restriction on exports of 'highly sensitive' graphite products, which are key elements for manufacturing batteries for electric vehicles. It also follows the US decision to impose restrictions on exports of high-tech microchips in October.
China supplies over 61% of the world's rare earth elements that are used in green energy conversion in high-tech products, the defense industry, laser guidance systems and electronic equipment, according to Statista, a German online data gathering and visualization platform.
The country also holds roughly two-thirds of global scarce metals and minerals and supplies 98% of the EU's demand for rare earth minerals.
By Duygu Alhan
Anadolu Agency
energy@aa.com.tr