Chinatungsten Online January 23 news, promoting by the Ministry of Industry, Development and Reform Commission, and other State ministries, the nine industry mergers and acquisitions was held yesterday (22 start of day). 

The nine major industries, including iron and steel, cement, automobile, machinery manufacturing, electronic information, shipbuilding, rare earth, electrolytic aluminum and agriculture. According to statistics, the nine industries involving a total of 900 listed companies, accounting for half of the current A-share listed companies, with a total market capitalization of more than 4 trillion Yuan.

In the case of this year's overall economic slowdown, the nine industries including rare earth industry are needed to transfer into effectiveness and quality. Now the enterprises from of rare earth industry insist that the enterprises are the mainstay, and adhere to market-oriented operation. State-owned rare earth industry hope to achieve the degree of concentration by mergers restructuring, and also to consolidate the basic system of socialism, enhance configuration elements of fair competition. The state-owned rare earth industry can advance and retreat in this process; the public sector of rare earth industry can implement the strategic restructuring; the non-public rare earth industry could create a good atmosphere to participate the competition. 

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Mines and Geosciences Bureau Director Leo Jasareno  yesterday said he will again seek the assistance of China Geological Survey in looking for rare earth elements.

“We will try to reach out to CGS to find out what their plans are for this year,” he said.

CGS representatives were expected to arrive in the country last year, however, communication with the agency stopped at the height of the Philippines-China standoff over the Scarborough shoal.

Jasareno emphasized that the standoff is unlikely to derail the Philippines’ economic relations with China.

“We already followed it up, but, we haven’t received any reply from the Chinese experts, but of course this is speculative,” he said in an earlier interview.

The Philippines is pushing exploration projects aimed at developing its rare earth deposits following China’s decision to cap exports to the global market.

The Philippines is already conducting its own exploration surveys in Nueva Vizcaya and Palawan, where rare earth deposits were found to be close to copper-gold mines.

“Notably, Palawan and Nueva Vizcaya are the best places to start. What’s important is to find out if these (rare earth elements) really exist since there are indications of mineralization in these two areas,” he said.

He revealed that the government has earmarked P20 million  for rare earth elements development.

“The P20 million is for the entire reconnaissance phase for the two-year preliminary survey,” he explained.

However, once the three stages of exploration go well, the program may take five years, according to Jasareno.

Jasareno added that the MGB will also seek the assistance of the Department of Budget and Management for the said exploration.

Rare earth metals are a group of elements that are used in a wide range of products we use every day, including hard drives and hybrid cars. Their properties, notably as lightweight magnets, make them key to the ongoing miniaturization of electronics and the growth of green technologies.

China recognized the importance of these elements decades ago and now supplies almost all the rare earth materials in the world.

At present, China produces nearly 97 percent of the world’s rare earth materials.

“China will still process our (rare earth elements) once we are able to get hold of it after this exploration,” he said.

Further limits on Chinese exports of rare-earth elements also threaten to raise costs for companies in an array of industries, including cellphone makers, oil refiners and high-technology batteries.

In December 2011, the Chinese Commerce Ministry announced an initial cut of 27 percent in its rare earth elements exports quota for 2012 as part of the crackdown on illegal mining of the rare earth oxides.

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Miao Changxing, deputy director of the Ministry of Industrial Policy, said recently that the current development of China's economic situation is grim. In order to accelerate the nine industries such as rare earth, and tungsten, we should promote the mergers and reorganizations of industry, especially to speed up mergers and acquisitions of overcapacity industries, for example, the rare earth industry. The rare earth industry is expected to speed up positive for the relevant leading enterprises.

Chinatungsten Online reported, on December 8, the China Research Center of corporate mergers and acquisitions held its sixteenth year in Beijing Jiaotong University, Miao Changxing emphasized during the meeting, that China will accelerate the mergers and acquisitions of automobile, steel, cement, ship medicine, electrolytic aluminum, rare earth, electronic information, agriculture, industry and other industries and fields like tungsten industry.

At the same time, it is necessary to eliminate institutional barriers, strengthening policy coordination, strengthen service guidance, coordinate and solve problems encountered in corporate mergers and acquisitions of rare earth and other industries.

Fig. The statistics of rare earth concept stock increase 

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China exported 16,265 tons of rare-earth ore, metals and compounds last year, falling below the annual export quota of 30,966 tons, according to official data.

The exports last year also marked a 3.5 percent decline from the export volume in 2011, according to data released by the China Customs Statistics Information Center. In December, China exported 3,252 tons of rare-earth ore, metals and compounds.

China has imposed a quota system to curb production and exports to conserve resources and protect the environment after decades of excessive exploitation.

Last month, the Ministry of Commerce set the first batch of rare earth export quotas for 2013 at 15,501 tons, which will be shared by 24 companies. The ministry said that will account for about half of the full-year quota.

The value of China's exports of the rare earths tumbled 66.1 percent to US$906 million last year, Customs data showed.

The prices of rare earths, which had surged for years because of supply concerns, have fallen sharply since late 2011 due to waning demand and increased supply. China is the world's dominant supplier of rare earths, a group of 17 chemical elements used in high-tech products, although the country holds less than a quarter of the world's reserves.

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