China to develop rare earth export quotas in trade partner countries unhappy

Foreign media said that China has just announced by the world closely watched the second half of 2013 export quotas for rare earth minerals, so the total rare earth export quota for the year reached 31,001 tons.

It is reported that China produces over 95% of the world's rare earths. Rare is the manufacture of low-emission vehicles from the iPad to many electronic components 17 kinds of important chemical elements.

According to official July 1 statement released, the Ministry of Commerce said that China will allow the June 2013 to mid-December, exports 15,500 tons of rare earth.

China in the first half of 2013 was 15,501 tons of rare earth export quotas.

Reported that China has developed the production of rare earth export quotas and limit, a move that upset some of our trading partners. China said the move aims to protect resources and the environment, in order to promote sustainable development. But usually, the export quotas do not fully utilized.

Reported that, according to statistics, the global decline in demand for rare earth in the context of China in 2012 exported 16,265 tons of rare earth, only half of the quota year 30,966 tons more.

However, China's largest rare earth producer Baotou Steel Rare Earth on July 2, said government regulations because production reached the limit of their subordinates an ore processing plant will be shut down for six months.


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