CEO Jim Farley made the comment in an interview with Bloomberg News. China controls more than 90% of global rare earth processing capacity.

China has approved "a certain number" of export permits for rare earth elements and related items, its commerce ministry spokesman said on Thursday.

Beijing’s agreement to temporarily restore rare-earth licenses was one of the key breakthroughs in the latest round of intense trade talks in London, but the six-month limit ill

China will place a six-month limit on rare earth export licenses granted to U.S. automakers and other manufacturers, people familiar with the matter told The Wall Street Journal, which would give Beijing leverage if tensions with the U.

India has asked state-run miner IREL to suspend a 13-year-old agreement on rare earth exports to Japan and to safeguard supplies for domestic needs, two sources familiar with the matter told Reuters,

Chinese curbs on rare earth element exports can have a significant impact on automobile and other industries in India. China accounts for nearly 70 per cent of the world’s rare earth mining and controls about 90 per cent of global production, giving it near-total command over this critical resource.

India, like many countries, is facing China’s restrictions on rare earth exports — and it wants to develop its own domestic supplies.

Chinese rare earths magnet producer JL MAG Rare-Earth said on Wednesday it had obtained export licences for rare earths products including magnets, motor rotors and components to regions including the U.

With nearly 70% of global rare earth production and more than 90% of processing taking place in China, the world remains heavily reliant on the country for rare earth element supplies.