In addition to reducing the quota on the amount of Rare Earth Elements (REEs) it allows to be exported, the Government of China has reportedly given the okay to the country's leading producer of rare earth metals to start building a stockpile.
It has been reported that say storage facilities built recently in the Chinese province of Inner Mongolia have capacity for more REEs than the 39,813 tonnes China exported last year.
China controls 90%+ of the current global flow of rare earth metals, crucial for their use in cellphones, laptops, electric cars and green energy technologies.
WSJ.com Article on China building strategic reserve of rare earth metals
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