The Ministry of Commerce announced on the 27th the first batch of rare earth export quotas in 2012, and the first batch of seven production companies and four circulation companies that passed environmental verification had received a total quota of 10,546 tons.
The person in charge of the Department of Foreign Trade of the Ministry of Commerce stated that in order to minimize the impact on the market supply, the first batch of quotas for these 11 companies was issued at 80% of their full-year quotas. At the same time, in order to effectively protect the environment, the Ministry of Commerce has reserved and announced its first batch of entitlement quotas (80% of its annual entitlement quota) for enterprises that are still undergoing environmental verification. However, it has yet to release Quotas will be issued when they pass environmental protection verification.
As of November 2011, China has exported 14,750 tons of rare earths, accounting for only 49% of the total annual export quota. The official said that in order to protect the international market demand and maintain the basic stability of rare earth supply, the total amount of rare earth export quotas in 2012 is still basically the same as in 2011.
The person in charge also said that in order to further improve the science and pertinence of the policy and to better protect resources and the environment, the Ministry of Commerce has implemented the method of classifying light rare earths and medium and heavy rare earths for rare earth export quotas since 2012.
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