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Inner Mongolia to Rev Up Rare Earth Development
The Inner Mongolia Autonomous Region in north China has drawn a plan to boost the development of its rare earth industry with an aim to build itself into the country's largest base for rare earth products development, production and export.
The region is known for its rich rare earth resources, which account for two-thirds of the world's proven reserves. Baotou City has most of the resources.
In its 10th five-year social and economic development plan for 2001-2005, the Chinese government has listed the development of finely processed rare earth products as a priority project.
Local officials said Inner Mongolia has decided to further adjust the product mix of its rare earth industry, with emphasis placed on high value-added products, environment-friendly products and functional materials.
Statistics show that last year, the Baotou Rare Earth High-Tech Industrial Development Zone, the region's rare earth development base, reported a total output value of 3.5 billion yuan (US$420 million) and an export income of US$65 million, both up 51 percent from the previous year.
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