Umicore sees no problem so far from China's curbs on critical minerals

By Dimitri Rhodes

(Reuters) -Umicore said on Friday that China's curbs on exports of rare earths and other critical minerals had so far not disrupted operations of the group that recycles and refines metals in both China and Europe.

Large amount of the materials Umicore refines end up in the European markets. It processes 17 out of the 34 raw materials the European Union has defined as critical, its management said.

"We have not had any issues in getting materials through our active management on stocks and our diversified supply chain," CEO Bart Sap said in a post-earnings call with analysts.

Many of Umicore's catalytic applications are not currently covered by China's restrictions, he added.

Umicore processes a wide range of metals sourced across the world. Those include antimony and germanium, critical minerals used in weapons, telecommunications and solar cells, that are on China's export control list alongside rare earths.

It was not immediately clear if Umicore had been sourcing any of those metals from China, and the company could not be immediately reached.

Exports of antimony and germanium were down 88% and 95% respectively in June compared to January, according to Chinese customs data. Much as with rare earths, China is by far the largest miner and or refiner for both elements.

(Reporting by Dimitri Rhodes in Gdansk, editing by Milla Nissi-Prussak)