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China to weed out rare earths producers?
by Staff Writers
Beijing (UPI) Aug 8, 2012


China has announced new industry rules for rare earth production, a move expected to weed out smaller operations.

Under the new rules, mixed-type rare earth mines must have a minimum annual production capacity of 20,000 metric tons and smelting companies must ensure an annual output of at least 2,000 tons, says a statement Monday from the Ministry of Industry and Information Technology.

While China has about one-third of global rare earth deposits -- a collective name for 17 metals used in the electronics, defense and renewable energy industries -- it produces about 95 percent of the world's supply of rare earths.

Under the government's new rules, as many as one-third of the country's 23 rare earths mines and about half of the 99 smelting companies wouldn't meet the new criteria, says Jia Yinsong, director of the ministry's rare earths office, China Daily newspaper reports.

That could mean that up to 20 percent of the country's rare earths capacity will be eliminated, Jia said.

The move marks the first time Beijing has designated thresholds for rare earth producers in terms of production scale.

Previously, China announced export quotas for rare earth minerals maintaining the restraints and reductions in mining are necessary to protect the country's natural resources and environment.

In the first half of this year, rare earths that were legally exported from China decreased 42.7 percent year-on-year.

The World Trade Organization on July 24 said it had set up a panel to examine China's rare earth export policies, following complaints by the United States, the European Union and Japan that Beijing's rare earths export restrictions violate trade rules.

China says the new rare earth production rules announced this week will protect the environment and promote industrial restructuring.

Yet the new rules appear to focus less on environmental protection standards, China.org reports.

A 2010 Chinese government draft to regulate rare earths, for example, reads: "It is prohibited to exploit monazite ore and other rare earth ores, which are radioactive and cause severe pollution."

But the newly released standard states: "It is prohibited to exploit monazite ore. To those rare earth ores with radioactive elements, the relevant radiation protection and prevention measures should be taken."

Lin Boqiang, director of the China Energy Economic Research Center at Xiamen University told China.org that reducing the number of domestic rare earth companies, as will happen under the new rules, is "good for fixing prices."

He said the government is more likely to support three or four larger rare earth enterprises, so it can control the international market price in the future.

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China launches trading platform for rare earth metals
Beijing (AFP) Aug 8, 2012 - China on Wednesday launched a trading platform for rare earth metals, state media reported, as it moves to boost its pricing power over the strategic resources for which it dominates global production.

China's leading producer of rare earths, Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Co., started the platform in cooperation with nine other companies and institutions, Xinhua news agency said.

Xinhua said that the facility is located in the city of Baotou in China's resource-rich northern region of Inner Mongolia, described as containing over half of global light rare earths output.

Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Co. could not be reached for comment.

China dominates production of the metals -- key elements in consumer electronics and other high-tech goods -- producing in excess of 90 percent of rare earths, though it only has 23 percent of global reserves, Xinhua said.

Their strategic importance gained prominence in late 2010 when Japanese industry sources said China temporarily cut off exports amid a territorial dispute between the countries. China denied halting exports.

A source close to the World Trade Organization (WTO) said last month that the body would investigate Chinese export restrictions on rare earths, after a request by the European Union, the United States and Japan.

The US claims that China sets export quotas, duties and other restrictions that make the products increasingly expensive.

China's WTO delegation said last month that the country's policies are meant to protect natural resources and achieve sustainable economic development, not to protect domestic industry.

Zhang Rihui, vice general manager of Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-tech Co., said that pricing on the platform will be "transparent and consistent," according to China National Radio.

The report said the trading centre will focus on physical trading in the initial stage with futures trading likely to be launched if operation of the exchange proves successful.

Luo Renyuan, an analyst at Industrial Securities in Shanghai, said that China is aiming to increase its global influence in rare metal pricing.

"The establishment of this trading platform is mainly to earn more say for China over the pricing of rare earth resources in the international market," Luo told AFP.



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