China Releases First Rare Earth Production Quota in 2017

SHANGHAI, Apr. 17 (SMM) - The Ministry of Industry & Information Technology (MIIT) released the first rare earth production quota for the year April 13, cnmn.com reported.

According to the quota, rare earth ore products production is planned at 52,500 tonnes, and smelting separation products are planned at 50,075 tonnes.

The quota is flat at the first of 2016’s, with higher concentration ratio.

The indicator for light rare earth is 43,550 tonnes for 2017, and 8,950 tonnes for medium and heavy rare earth, which totals 52,500 tonnes. The quota did not change for each region. Some regions’ exploration quota was given to the six largest rare earth groups therein.

According to the Rare Earth Industry Development Plan 2016-2020 released by the MIIT in late October 2016, China’s mining, smelting separation and recycling will be under management of the six groups by 2020. At the same time, entry requirements will be more strict. No more company will receive mining rights with the exception of the six large groups.

The six rare earth groups will be required to reduce or cancel production plan for any purchase of illegal mineral resources or over-plan production. The plan reduced will be transferred to other producers of the groups. 

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