China MIIT: Cooperating with other seven ministries to strictly regulate the rare earth illegal activities
2016-12-09 19:40:07 [Print]
BEIJING (Asian Metal) 9 Dec 16 - On 7 December, the China’s Ministry of Industry and Information Technology cooperated with Ministry of Public Security, Ministry of Land and Resources, Ministry of Environmental Protection, General Administration of Customs, State Administration of Taxation, State Administration of Industry & Commerce, eight ministries in total, to jointly issued “A letter about organizing the special action to defeat rare earth illegal activities”. The text is as follows:
“In recent years, relevant departments and local government cooperated to investigate and punish some illegal cases, deterring a group of rare earths criminals and promoting the market order. However, driven by interests, some participants manage illegal mining, unplanned production and trade illegal rare earth products, in which some provinces are serious. As a result, the rare earth product market prices remain at low levels and the exports increased but average price dropped; In addition, some enterprises face difficulties in production and management. In order to further standardize market order, to crack down on rare earth mining, production and trading behavior, we decided to carry out the special action to combat the illegal violations of rare earths across the country since December 2016 to April 2017, on the basis of preliminary rectification work.”
Asian Metal learnt that this action involved totally 23 provinces and 379 companies. Insiders believe that this action will crack down on private ores and stabilize the rare earth price. They expect that the rare earth market prices will show slight uptrend in the coming months.
“In recent years, relevant departments and local government cooperated to investigate and punish some illegal cases, deterring a group of rare earths criminals and promoting the market order. However, driven by interests, some participants manage illegal mining, unplanned production and trade illegal rare earth products, in which some provinces are serious. As a result, the rare earth product market prices remain at low levels and the exports increased but average price dropped; In addition, some enterprises face difficulties in production and management. In order to further standardize market order, to crack down on rare earth mining, production and trading behavior, we decided to carry out the special action to combat the illegal violations of rare earths across the country since December 2016 to April 2017, on the basis of preliminary rectification work.”
Asian Metal learnt that this action involved totally 23 provinces and 379 companies. Insiders believe that this action will crack down on private ores and stabilize the rare earth price. They expect that the rare earth market prices will show slight uptrend in the coming months.
