China says it is granting new, streamlined rare earth export licences

By ‌Joe Cash

BEIJING, Dec 18 (Reuters) - China's Commerce Ministry ‍said ‌on Thursday that it had granted several general ⁠licenses for rare ‌earth exports, a new category of permit that aims to speed up shipments of the vital ⁠elements.

Responding to a question from state media about reports ​that Beijing had issued some of ‌the licenses for European ⁠firms, a ministry spokesperson said applications had been approved but did not specifically mention ​Europe.

"Some exporters have already preliminarily met the basic requirements for applying for a general license," the spokesperson said at a regular ​weekly ‍briefing. "As far as ​I know, some applications for general licenses submitted by Chinese exporters have already been received and approved."

Reuters has reported that suppliers to U.S. automaker Ford have received the new licenses. ⁠However, no European company has yet confirmed that they have received ​one.

European Commission trade chief Maros Sefcovic told Bloomberg television this week the bloc has heard reports of its companies ‌receiving licenses but there were still few details.

(Reporting by Joe Cash; Editing by Himani Sarkar)