HugChina >> China Forum >> Chinese Economy >> China sets rare earth output quota for 2011

This thread is viewed 1933 times and replied 0 times.        New Thread
Edit Title:[HugChina] China sets rare earth output quota for 2011
China Forum member Icon
Bernd Chang
Army Chief
China has set its total output of rare earth at 93,800 tonnes this year, 4,600 tonnes more or 5.16 percent higher compared to last year's, the Ministry of Land and Resources announced Thursday.

China will not grant any new licenses for rare earths prospecting and mining before June 30, 2012, said a statement on the ministry's website.

According to the statement, total output of light rare earths is set at 80,400 tonnes and that of medium and heavy rare earths at 13,400 tonnes this year.

China adopted the output quota system for rare earth in 2007, in a bid to to balance environmental protection needs and industrial demands. China is the world's largest rare earths producer and exporter, supplying 90 percent of the global demand with only one-third of the world's total reserves.

China has announced a series of policies for the rare earth industry since the latter half of last year, including export quota cuts, higher taxes and tighter regulation on mining companies.

The rare earth export tax hike, which goes into effect today, was announced by the Chinese government last December. The new export tax rates will be 60 yuan per tonne for light rare earths and 30 yuan per tonne for medium and heavy rare earths.

Rare earth metals, a collection of 17 chemical elements in the periodic table, are incorporated into many technological devices, including superconductors, samarium-cobalt and neodymium-iron-boron high-flux rare-earth magnets, electronic polishers, refining catalysts and hybrid car components (primarily batteries and magnets).

[Source of this article:Chinadaily]

Welcome to visit! HugChina - Embrace Fortune
Profile  Send Message    Created Time: Fri, Apr 1, 2011 08:11 AM      Add as Friend 
  Go Top
Note: * are required
* Username     Password
  Picture You can upload one jpg picture of less than 200kb


No more than 8000 and no less than 2 characters


Username         Password             Forget Password?    Not a member?

Follow Us

Facebook Twitter LinkedIn Google+

HugChina provides comprehensive information about modern and traditional China: China stories, China pictures, China Facts, Sexy China, Learn Chinese materials, Chinese food, Chinese cuisine, TCM, Chinese medicine, China forum, etc..

Useful Links