China’s government has issued stricter regulations on rare earths, adding punishments for illegal mining, processing, imports or exports of the sought-after metals. Chinese Premier Li Qiang signed a decree to this effect at the weekend, according to the state news agency Xinhua. China is a major producer of rare earths, which include 17 elements. The rare earths are important for a range of applications, including the production of batteries and electric cars. The stricter regulations on the handling of these important raw materials also stipulate that rare earths belong to the Chinese state a…