China has begun designing a new rare earth licensing regime that could speed up shipments, but it is unlikely to amount to a complete rollback of restrictions as hoped by Washington, industry insiders said. The Ministry of Commerce told some rare earth exporters they will be able to apply for new streamlined permits in the future and in industry briefings outlined the documents that will be required, two sources familiar with the matter said. The export curbs have become Beijing's most potent source of leverage in its trade rivalry with Washington, as China produces over 90% of the world's processed rare earths and ... (full story)