Auto sector seeks government action on China rare earth magnet imports

The automobile industry is urging the government to help speed up Chinese approvals for rare earth magnet imports, essential for passenger cars. Domestic suppliers have applied through Chinese vendors, but approvals are pending. China, controlling over 90% of global processing, now requires special export licenses for these magnets, impacting various sectors.

from Auto-Industry-Economic Times https://ift.tt/tMNFkC1