China Sets First Rare Earths Production Quota for 2013

Author:Eric Min     Source:Morning Whistle     Click:248     Publish time:2013/1/9 9:50:33

China, the world’s biggest supplier of rare earths, set the first of two production quotas for 2013 at 46,900 metric tons of the ore, the vital non-renewable natural resources.

The figure is about half the total quota set last year, according to a Ministry of Land and Resources statement posted on its website Saturday.

The ministry did not make the production quotas public last year, while the figure for 2011 was 93,800 tons, Bloomberg said.

Output quotas for the rest of the year will be announced in the second quarter, according to the statement.

China has imposed production limits on rare earths and set export restrictions to preserve supply and conserve the environment since 2007.

The United States, European Union, Japan, along with Canada, lodged a complaint with the WTO in March, claiming Beijing was unfairly choking off exports of the commodities to benefit domestic industries.

Rare earths are a group of 17 metals vital to a wide range of products and materials like smart phones, wind turbines, electric car batteries, and countless other applications.

The world’s second biggest economy has been insisting that it's unfair to bear the burden of supplying 90 percent of rare-earth demand while only having 23 percent of global reserves, and began to implement stricter environmental standards on mining and refining.

Keywords:China Sets First Rare Earths Production Quota for 2013
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