China maintains mining quotas for heavy rare earths, tungsten
China has set mining quotas for heavy rare earths and tungsten at the same levels as last year, as the world’s largest producer seeks to control mining and exports.
As much as 17 900 t of heavy rare earths and 89 000 t of tungsten can be mined this year, according to a statement by the Ministry of Land and Resources. The country has raised the mining quota on more abundant light rare earths to 87 100 t this year from 75 900 t a year ago, according to the statement.
China, which accounts for 90% of global rare earths production, cut mining permits and imposed production and export quotas in 2007 to reduce pollution and conserve supplies. In March, a dispute-settlement panel at the World Trade Organisation sided with the US, Japan and Europe in determining that China did not adequately justify imposing export duties and quotas on rare earths and other resources.
“China may also increase mining taxes and export licence fees to build up government reserves in addition to this mining quota,” says Peng Bo, an analyst at China Merchants Securities.
Rare earths are a group of 17 chemically similar elements critical to the manufacture of products from wind turbines to high-performance magnets for cars and weapons.
China might “significantly” raise the resource tax on rare earths with an announcement coming in the second half of the year, the Economic Information Daily reported on May 20, citing an unidentified person familiar with the matter.
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