China Issues 25,000 T of Rare Earths Output Quota to Baotou

Industry News 03:16:55PM Apr 09, 2012 Source:SMM

SHANGHAI, April 6 (Reuters) - China has issued a rare earths production quota to Inner Mongolia, the local resources ministry said in a statement on Thursday.

The quota, for production of 25,000 tonnes, has been allocated entirely to Baotou Steel Group, according to a statement by the local branch of China's Ministry of Land Resources.

The group is the parent of Baotou Steel Rare-Earth Hi-Tech , China's top producer of rare-earth minerals. Both are headquartered in Inner Mongolia.

China has resolved to crack down on illegal private production and streamline its chaotic rare earth sector by encouraging consolidation. It imposed a national output cap of 93,800 tonnes for 2011.

China, which produces about 95 percent of global rare earth supplies, has imposed an export quota of 30,184 tonnes this year, almost flat from last year.
 

Key Words:  rare earth  production quota 

China Issues 25,000 T of Rare Earths Output Quota to Baotou

Industry News 03:16:55PM Apr 09, 2012 Source:SMM

SHANGHAI, April 6 (Reuters) - China has issued a rare earths production quota to Inner Mongolia, the local resources ministry said in a statement on Thursday.

The quota, for production of 25,000 tonnes, has been allocated entirely to Baotou Steel Group, according to a statement by the local branch of China's Ministry of Land Resources.

The group is the parent of Baotou Steel Rare-Earth Hi-Tech , China's top producer of rare-earth minerals. Both are headquartered in Inner Mongolia.

China has resolved to crack down on illegal private production and streamline its chaotic rare earth sector by encouraging consolidation. It imposed a national output cap of 93,800 tonnes for 2011.

China, which produces about 95 percent of global rare earth supplies, has imposed an export quota of 30,184 tonnes this year, almost flat from last year.
 

Key Words:  rare earth  production quota