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Chalco approved to establish rare earth group

Details: Category: Rare Earth News; Published on Wednesday, 13 August 2014 13:57; Written by jwy; Hits: 2200

The Aluminum Corporation of China Ltd. (Chalco) confirmed on 6th,Aug. that it has won approval to form a rare earth bloc amid the government push to consolidate the industry.

Chalco said the Ministry of Industry and Information Technology (MIIT) has approved its plan to integrate rare earth enterprises in the provinces of Guangxi, Jiangsu, Shandong and Sichuan to its wholly owned subsidiary, China Rare Rare-earth Corp.

The news follows the MIIT pledging earlier this year to encourage and support six industry leaders, including Chalco, the Inner Mongolia Baotou Iron & Steel (Group) Co., Ltd. and China Minmetals Corporation to coordinate more mergers and acquisitions to consolidate the industry.

Boosted by the news, Chalco's shares surged by the daily limit of 10 percent to end Wednesday at 4.07 yuan (0.66 U.S. dollars) per share.

China is the world's largest rare earth producer and exporter, but the industry is beset by problems including illegal mining, smuggling and a lack of competitiveness due to weak research and development.

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China's first rare earth products exchange opens

Details: Category: Rare Earth News; Published on Wednesday, 13 August 2014 13:51; Written by jwy; Hits: 2151

China's first rare earth products exchange opened in Inner Mongolia Autonomous Region after a three-month trial.

The Baotou Rare Earth Products Exchange is expected to regulate the country's rare earth market, improve the way prices are formed and promote development of the industry, said Jia Yinsong, a Ministry of Industry and Information Technology official.

The exchange will introduce three spot transaction modes, namely price bidding, listed trading and real-time trading online, with more than 10 trading items including cerium oxide, praseodymium-neodymium oxide, and europium oxide.

Located in Baotou City, the exchange was initiated by Baotou Steel Rare Earth (Group) Hi-Tech Co., China's leading rare earth producer, and another 11 firms and institutions with a registered capital of 120 million yuan (19.32 million U. S. dollars).

China is the world's largest rare earth producer and exporter, accounting for more than 90 percent of the world's supply. However, the country lacks pricing power in the global market and wild price swings of resources have had a negative effect on Chinese producers.

The exchange will help integrate resources during their circulation in China and gradually regulate the trading and pricing of them, said Zhang Zhong, general manager of Baotou Steel Rare Earth Hi-Tech Co..

Zhang said the exchange will improve transparency of the market and help China to secure a bigger say in the pricing of rare earth products to stabilize the market.

Rare earth metals are vital for manufacturing high-tech products ranging from smartphones and wind turbines to electric car batteries and missiles.

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WTO ruled illegal Chinese rare earth exports accelerated group layout

Details: Category: Rare Earth News; Published on Tuesday, 12 August 2014 14:25; Written by HJF; Hits: 2043

After a preliminary report released in the first half, Geneva August 7th, the World Trade Organization (WTO) released the report on the United States and the European Union, Japan v. China rare earth, tungsten and molybdenum products export control measures and appellate body. The report is the final report.

The report for March this year the expert group preliminary determination results, that China's export restrictions on rare earth, tungsten and molybdenum in violation of WTO rules. WTO support for the EU, the United States and Japan claim that China's export tariffs and quotas failed to environmental or conservation reasons to prove its rationality.

China's rare earth policy accords with WTO rules, experts

Details: Category: Rare Earth News; Published on Wednesday, 13 August 2014 13:48; Written by jwy; Hits: 2054

Chinese experts have regreted a WTO ruling against China's rare earth export policies, while calling for consolidation in the highly polluting sector.

The World Trade Organization (WTO) ruled on Wednesday that China's export duty, export quotas, and export quota administration and allocation measures imposed on rare earths, tungsten and molybdenum products were inconsistent with WTO rules and China's Accession Protocol.

Under WTO rules, China can make an appeal within 60 days and the final ruling will come in three to four months.

Mei Xinyu, a foreign trade expert at the Ministry of Commerce, said China's restriction on rare earth exports is designed to conserve resources and protect the environment, and it is in line with WTO rules and China's own situation.

China is the world's largest rare earths supplier, serving around 90 percent of the world's demand for rare earths, a group of 17 elements that are widely used in high-tech products ranging from flat-screen TVs to lasers and hybrid cars.

However, the country holds only 23 percent of the world's rare earth reserves. For decades, excessive exploitation, antiquated mining technologies and lax environmental standards have taxed the country's environment.

In some towns in east China's Jiangxi province, where reserves of precious ion-absorbed-type rare earths abound, exploitation since the late 1980s has not only destroyed local landscapes, but also poisoned streams and crops.

Li Yang, with the China Institute for WTO Studies at the University of International Business and Economics, urged WTO personnel to take field trips to China and learn about the real situation.

Then they will understand that the Chinese government is limiting rare earth production and consumption for the environment's sake, said Li.

As a matter of fact, most nations with rare earth deposits, including the United States, closed their own mines decades ago as rare-earth mining and processing is notoriously devastating to the environment.

Besides export quotas, China has implemented policies including output caps, stricter emissions standards and high resource taxes to curb environmental degradation and protect the resources.

Now, as the country may have to scrap its export measures, the experts believe the country should put more weight on alternative measures to better manage rare earth production.

Feng Jun, an analyst from the Shanghai WTO Affairs Consultation Center, said China should raise resource taxes to increase the cost of mining. What's more, higher emissions standards will force substandard companies to close.

Mei Xinyu added that China should speed up the consolidation push in the sector to upgrade the industry and crack down on illegal mining.

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Chinese in WTO rare earth appeal against the final

Details: Category: Rare Earth News; Published on Friday, 08 August 2014 15:11; Written by HJF; Hits: 2217

According to BBC8 7 June 2007, the World Trade Organization WTO Thursday (7 days) award, Chinese is American, European Union and Japan complaints China restrictions on exports of rare earths appeal case lost.

WTO this award, China did not show a series of quota restrictions on rare earth, tungsten, molybdenum export it adopted is reasonable.

Rare earth is an important component of modern science and technology of national defense industrial production and manufacture products including iPhone, disk drive and a wind turbine included.
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China produces the whole world over 90% of the total rare earths, but from 2010 onwards, China announced restrictions on exports of rare earth metals, and said the move was to reduce pollution and protection of rare earth resources.

Restrictions on exports of rare earths in Chinese, international rare earth prices jumped by several hundred percent.

American, EU and Japan, the complaint said, quota restrictions for China Company to take advantage of the hybrid car batteries, wind turbines and energy-saving lighting products such as the production competition.

Widely expected, Chinese will lose the WTO re appeal, because after Chinese already in a similar case in the losing of export commodities.

Now Chinese by WTO award constraints, will have to cancel the tungsten, molybdenum and rare earth export quotas.

Chinese had argued that, on rare earth, tungsten and molybdenum export quotas, is to prevent excessive exploitation, this policy is an important part of the sustainable development of China.

China commerce ministry said in a statement, Chinese will carefully assess the ruling, continue to improve the consumption of resources product management, in accordance with WTO consistent way, promoting the protection of natural resources, maintain fair competition and to realize sustainable development.

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