China sets 2011 rare earth output quota

China aims to cap the total output of rare earth oxide at 93,800 tonnes this year, the Ministry of Land and Resources announced Thursday.

This was 5.16 percent higher compared to the quota set for last year.

China will not grant any new licenses for rare earths prospecting and mining before June 30 of 2012, the ministry said in a statement on its website.

The statement also said the country would cap the total output of light rare earths at 80,400 tonnes and that of medium and heavy rare earths at 13,400 tonnes this year.

As the world's largest rare earths producer and exporter, China supplies 90 percent of global demand, but its reserves only account for about one-third of the world's total.

China has announced a series of policies for the rare earth industry this year to balance environmental protection needs and industrial demands, including stricter emission limits on miners, cuts in export quota and a resources tax.

Source: Xinhua

http://paper.people.com.cn/rmrb/html/2011-04/01/nw.D110000renmrb_20110401_7-02.htm

	Weekly review