China accused of hoarding minerals

The European Union and the US say high exports tariffs on minerals leaving China are greatly distorting the industry, and are threatening to take their complaint to the World Trade Organisation later this month if the problem is not rectified.

Officials say the high tariffs prevent minerals such as zinc, tin, tungsten and silicon from leaving China, enabling manufacturers within the country to purchase the raw materials at bellow market prices, reports the Financial Times.

The E...