Major rare earth firms to integrate small ones
Print Edition
CHINA’S six major rare earth groups will complete substantial integration of small mines and smelting companies by the end of 2015, an official said yesterday.
Su Bo, vice minister of industry and information technology, said that as China has removed controls on rare earth export quotas, exporters will compete aggressively for market share, which makes the fostering of an orderly market an arduous task.
China is the world’s largest rare earth producer and exporter, but the industry is beset by problems, including illegal mining, smuggling and a lack of competitiveness.
China approved a plan in January 2014 to encourage the six rare earth companies to integrate regional resources.
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