China ready to give up rare earth export quotas and export tariffs

News that China is prepared to abandon the controversial export duties and export quotas . In March, the World Trade Organization (WTO) determine China 's rare earth export controls violate WTO trade principles . "Faced ruling that Beijing may have no choice but to comply . In the next year there may be the elimination of export restriction rules . " The anonymous source said , " to comply with WTO rules will be adjusted to reflect Beijing 's tactics , but long-term plan to improve its ability to develop pricing and access to lucrative downstream industry market share is expected to remain unchanged. "

Dutch consulting firm Adamas Intelligence founding director Ryan Castilloux told Reuters : " I think Beijing is looking for long-term development path , to replace rare earth resource tax or abolish export tariffs. Thus, actual results ultimately will China is relatively positive. "China's rare earth resources tax was last raised in April 1, 2011 .

Chinese rare earth export quota system began in 1998 . Currently, the rare earth exporters must be turned over to 15% -25 % export tariff . Since 2010 the scale of China cut exports of rare earth , the global rare earth stocks nearly depleted. China Rare Earth about 70 % of global consumption , accounted for 90% of global supply .

Bloomberg News reported that China will strictly control the rare earth industry in the second half of the year , especially illegal mining. This is expected to push up rare earth prices . Beijing Antaike analyst at research firm Chen Huan said it will push prices up over 20 percent of rare earth , " the higher prices will stimulate the development of overseas rare earth mine . "

Not only is the pressure from international sanctions , the Chinese rare earth industry is also another ambush a " toxic time bomb" - rare earth mining projects overseas is growing . Brokerage Euro Pacific Canada statistics show that international mining companies are promoting several rare items , at least 18 companies are seeking overseas mining of rare earth resources in the next decade, the total investment will be up to $ 12 billion .

Greenland Minerals Managing Director for Energy Bloomberg News said :

Chinese people do not want to see the prices, because it will lead to a sharp rise in the cost structure of rare earth . The future will be more diverse global rare earth supply .

Rare is an important strategic resource , due to the difficulty of purifying large smelting and became scarce supply named "rare earth ." RE can be used as a lubricant , can significantly improve the quality and performance of other products , and is widely used in many fields. Among them, the rare earth permanent magnet in consumption in China accounted for 42% share of the downstream demand is the largest industry .

In recent years, China 's rare earth industry has significant features : stealing rampant illegal mining , illegal mining and serious environmental pollution ; rampant smuggling , smuggling even more than the regular amount of exports . China Rare Earth Industry Association马荣璋Secretary-General has said that from 2006 to 2008 customs statistics of foreign imports of rare earths from China , exports to China Customs statistics, more than 35% higher , respectively , 59% and 36% , in 2011 it is higher 1.2 times ; export quota exhausted.


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