China may start building rare earths stockpile soon

BEIJING: China, the world's largest producer and consumer of rare earths, may start building an 18,000-tonne strategic stockpile of the elements in September, the Economic Information Daily newspaper said.

Though it has just 23% of global reserves, China accounts for more than 90% of the world's supplies of rare earths. It has trimmed its export quotas in recent years, angering trade partners who say the curbs are unfair.