The approval was granted considering rising global demand for medium and heavy rare earth elements driven by industries such as robotics and new energy vehicles.

China’s new restrictions on rare earth exports have caused significant supply chain disruptions and price instability in global markets, impacting industries like automotive, renewable energy, and defense.

The approval was granted considering rising global demand for medium and heavy rare earth elements driven by industries such as robotics and new energy vehicles, a spokesperson of the Ministry of Commerce said.