“China produces over 90% of the world’s processed rare earths and rare earth magnets. The 17 rare earth elements are vital materials in products ranging from electric vehicles to aircraft engines and military radars.Exports of 12 of them are now restricted after the Ministry of Commerce added five – holmium, erbium, thulium, europium and ytterbium – along with related materials.Foreign companies producing some of the rare earths and related magnets on the list will now also need a Chinese export licence if the final product contains or is made with Chinese equipment or material. This applies even if the transaction includes no Chinese companies.”
Source : China expands rare earth restrictions, targets defence, semiconductor users | Reuters