Construction of rare earth development projects overseas speed

As the world's largest rare earth supplier, China rare earth development boom will turn to overseas, overseas investment $ 12 billion to build rare earth development projects.

Reported that China accounted for 90 percent of global rare earths market share, but to reduce domestic pollution, is preparing to introduce new tax policies and regulations of rare earth in the second half of this year, which will undoubtedly push up rare earth prices.

These measures will reduce the development of rare earth in China, and these elements are necessary for many products, such as Apple's iPod, Toyota's hybrid and Raytheon "Tomahawk" cruise missiles.

Rare analyst Chen Huan said rare earth prices could push overseas development of rare earth resources. He expects the introduction of the new rules will push up the price exceeds RE 20%.

This change was mainly due to the March WTO ruled China rare earth mineral export restrictions violate the rules of the WTO, such as export quotas and high tariffs on rare earths. China accounted for 70% of global consumption of rare earths, in 2010, China reduced export of rare earth, rare earth global supply shortage.

China launched a new policy aimed at two aspects: the illegal exploitation and informal mining.

Vice-Chairman of the Australian rare earth exploration developer Northern Mining Limited (Northern Minerals) Kevin - Schultz (Kevin Schultz) said: "Taking into account the environmental impact of China, are against illegal mining. But other countries do not want to monopolize China's rare earth resources, rather than exports. "

In order to limit rare earth mining, from four years ago, the Chinese government began to close irregular mineral extraction point. Because no formal mining would bring gas, deadly fluorine, wastewater and carcinogenic heavy metals such as cadmium. Since China should vigorously promote green China, April 25 since China introduced the largest environmental regulations.

Greenland Minerals and Energy's Managing Director - John Mayer (John Mair), said: "China does not want the rare earth prices, as this would lead to a substantial increase in its cost structure. With China's entry into the overseas market, we will see the development of global diversification mine. "


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