Rare earth export quota set for 2013
Source: Xinhua |
December 29, 2012, Saturday
|
Print Edition
Print Edition
CHINA'S Ministry of Commerce yesterday announced the first round of rare earth export quotas for 2013.
The first batch of quotas totals 15,501 tons, about half the quota set for all of 2012, the ministry said in a statement.
Of the total, 13,563 tons are allocated for light rare earths, while 1,938 tons are for medium and heavy rare earth metals, according to the statement.
Twenty-four companies will share the quota, including Inner Mongolia's Baotou Steel Rare-Earth Hi-Tech Co, the country's largest rare earth producer.
China usually issues the quotas in two batches.
The country serves more than 90 percent of the world's demand for rare earths, a group of 17 elements that are widely used in high-tech products.
However, the country holds only 23 percent of the world's rare earth reserves, and decades of excessive exploitation have greatly damaged the environment.
The first batch of quotas totals 15,501 tons, about half the quota set for all of 2012, the ministry said in a statement.
Of the total, 13,563 tons are allocated for light rare earths, while 1,938 tons are for medium and heavy rare earth metals, according to the statement.
Twenty-four companies will share the quota, including Inner Mongolia's Baotou Steel Rare-Earth Hi-Tech Co, the country's largest rare earth producer.
China usually issues the quotas in two batches.
The country serves more than 90 percent of the world's demand for rare earths, a group of 17 elements that are widely used in high-tech products.
However, the country holds only 23 percent of the world's rare earth reserves, and decades of excessive exploitation have greatly damaged the environment.
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