Resumen de China outlines plans for rare earths production controls
The policy mimics earlier efforts by the Chinese government to gain a handle on its rare earths sector. In 2012, a plan to establish national inventories saw the stockpiling of 50 tonnes europium oxide, 1,500 tonnes yttrium oxide, 300 tonnes dysprosium oxide and 60 tonnes terbium oxide.
The company's overall revenue rose 31% year-on-year (y-o-y) to Rmb 3.4bn ($530m), however its rare earths business recorded an 18% drop in earnings to Rmb 1.57bn ($240m). Sales of dysprosium were particularly hard hit, falling by 62% y-o-y. A 53% increase in sales of the low-priced rare earth, cerium, failed to offset the declines in revenues from other elements.
The Indian government is aiming to auction one of its rare earth blocks in the Barmer desert of Rajasthan by regulating its mining policy to expedite exploration and production of monazite, the main rare earth mineral found in the country, while countering China's monopoly in the rare earths market.
