China grants more quotas for rare earth exports
June 6, 2012
China has announced additional rare earth export quotas for 2012. The Ministry of Commerce has said that it would allow companies to potentially export an additional 10,680 tonnes of rare earths, bringing the total for the year to 21,226 tonnes.
The ministry said the additional quotas were given to 12 companies that had recently passed environmental checks. In December 2011 the ministry granted its first batch of 2012 export quotas totalling 10,546 tonnes for 11 companies.
The government has previously said its total export quotas for would remain roughly the same this year compared to 2011.
In 2011 China granted two batches of rare earth export quotas totalling more than 30,000 tonnes.
The quotas give companies the opportunity to export, but they are not necessarily used, due to factors such as weak market conditions.
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