China Sets Rare Earth Export Quota for 2012

The Ministry of Commerce (Mofcom; Beijing) has announced China's first batch of rare earth export quotas for 2012, totaling 10,546 m.t. About 11 companies, seven rare earths producers and four distributors, will share the quotas. The companies involved received 80% of their full-year quota under the first batch. China’s total rare earth export quota for 2012 will be about the same as the quota for 2011, Mofcom says. The total rare earth export quota for 2011 was approximately 30,100 m.t. China, however, used only about half of its export quota in 2011 with...

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