Beijing has approved more export licenses for the critical minerals and magnets in recent days, but supplies remain scarce and factories in the West are running out.

China has agreed to fast-track approvals for the shipment of rare earth minerals to the United States and some European Union nations.

China on Saturday said it had granted approval to some applications for the export of rare earths, in a move that comes just ahead of fresh trade talks between Chinese and U.S. officials on Monday. China's strict export controls over rare earths has been a flashpoint in trade relations with the U.