CMOC, China Rare Earth surge amid export curbs on strategic resources

CMOC (3993) climbed more than 6 percent to trade around the HK$6 level while China Rare Earth (0769) surged 10.53 percent to HK$0.42 in the afternoon, driven by the mainland's export controls on critical materials such as tungsten, tellurium, bismuth, molybdenum and indium.

These materials are widely used in the high-tech, defense and energy sectors and possess significant strategic value.

Export controls on these key resources will be implemented to safeguard national security and fulfill non-proliferation obligations, both the Ministry of Commerce and the General Administration of Customs announced on February 4 in Beijing.

GORDON YANG