Possible Delays in Baotou Rare Earth Products Exchange’s Trial Runs in October

SHANGHAI, Oct. 12 (SMM) –

Possible Delays in Baotou Rare Earth Products Exchange’s Trial Runs in October
China’s first rare earth products exchange, Baotou Rare Earth Products Exchange, was scheduled to begin trial runs in October. However, Baotou Steel Rare Earth (Group) Hi-Tech Co. and China Minmetals Rare Earth Co., it major shareholders, said Tuesday that they have received no notices regarding when the exchange will be operational.  

Rare Earth Suppliers Cautious about Quoting before SRB’s Possible Bid Invitation in Mid-October
Offers for light and heavy rare earth held stable during the first two days after the Chinese National Day holiday as suppliers chose to hold to the sidelines before possible rare earth bid invitation by the State Reserve Bureau (SRB) in mid-October. Prices of heavy rare earth fell sharply in the week before the weeklong holiday, with dysprosium oxide down 6.5%. Prices for light rare earth such as didymium oxide, however, stayed at high levels before and after the public holiday.     

Jiangxi Launches Cleanup Campaign Targeting Illegal Rare Earth Operations
The Jiangxi government is teaming up with related departments in its province to crack down on illegal mining, production and sales in rare earth industry, in response to requirement by eight departments of the State Council, the country’s cabinet. The cleanup campaign will run from August 15 through November 15.  

NFC to Invest 1.3 Bln yuan to Establish Ion-Type Rare Earth Facility in Guangdong
China Nonferrous Metal Industry’s Foreign Engineering and Construction Co. (NFC) held a signing ceremony with the government of Xinfeng County, Guangdong on October 9th. NFC will invest 1.3 billion yuan to establish an ion-type rare earth production, R&D, application and distribution center in the county, according to the agreement.

Rare Earth Programs in Ganzhou Approved by MLR
Mining Rights Allocation Rules for Rare Earth Mines in Ganzhou and Continuation Plans for Exhausted Rare Earth Mines in Ganzhou have recently been approved by the Ministry of Land & Resources (MLR).

China-Kinwa Finishes Prospecting of Continent Slot Rare Earth Ore Deposits
China-Kinwa High Technology Co. (China-Kinwa) finished geological prospecting of continent slot rare earth ore deposits on September 18. The prospecting report is being compiled and ready for submission to Sichuan office of the Ministry of Land & Resources (MLR). 

Guangxi Releases 1st Batch of Mining Targets for Tungsten, Antimony and Rare Earth Ore for 2013
Guangxi province recently released the 1st batch of mining targets for tungsten ore, antimony ore and rare earth ore for 2013.