China sets new annual quota targets for rare earth production

By Saadet Gokce

ISTANBUL (AA) - China on Friday issued new annual quota targets for rare earth supply, including the mining, smelting and separation procedures.

The target will take factors of national economic development goals, the country's rare earth reserves and their types, industry development, ecological protection, and market demand into consideration, reported state-run Global Times.

Production companies will also be informed of the approved quota limits.

Although the rare earth supply quota volume was not clarified, the regulations aim to enhance total volume control for rare earth mining and processing, covering both domestic extraction, including rare earth mineral products, and smelting of minerals obtained through mining, imports, or processing of other ores, such as monazite concentrates.

The interim rules were jointly issued by the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the Ministry of Natural Resources.

The new regulations require rare earth producers to keep precise records of product movements and upload the data every month to a government-run tracking platform.

Local authorities have also been urged to tighten supervision to make sure quota limits are implemented.

Rare earths, consisting of 17 elements, are used in high-tech products ranging from flat-screen TVs to lasers and hybrid cars.