Resumen de IM 2012 Round-ups: Rare earths
In August, China launched its rare earths trading platform in Baotou, northern China, under the name Baotou Rare Earth Product Exchange Co. Ltd, and involved some of China's most significant rare earths companies in trading negotiations to assist transparency and moderate price volatility.
Later that month, China raised its export quota for rare earths from around 30,000 tonnes rare earth oxides to 31,965 tonnes in the first increase since 2005, although the significance of this was questioned given that China did not meet its official export quota for rare earths in 2011, exporting only 18,600 tonnes of a permitted 30,000.
China's Ministry of Land and Resources reduced the number of rare earths mining licences by more than 40% to 67 from 113 in September, fuelling speculation that the measure was yet another move aimed at boosting consolidation of Chinese rare earths supply.
