SHANGHAI, Nov. 6 (SMM) –Rare earth prices will draw rising impetus in the near term from Chinese authority’s recent crackdowns on illegal mining activity, Shanghai Metals Market predicts.
On October 29, the Ministry of Industry & Information Technology (MIIT) issued a notice on clampdown on illegal processing of rare earth ores. The campaign, running from November 1 through November 20, mainly targets Jiangxi, China’s major rare earth producing region, as well as Guangdong, Hunan, Jiangsu and Anhui provinces.
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