Chinese state-owned enterprises to dominate the mining of rare earth ores
2010-06-04 15:17:35 【Print】
Following by the government policy of the restriction of rare earth production and export quota, according to informed sources, the Ministry of Industry and State Development and Reform Commission have already selected a few key Chinese state-owned enterprises to integrate rare earth resources in order to prevent over-exploitation.
"The draft report was recently submitted to the State Council for approval. Once it was done, the Ministry of Land and Resources will issue the licenses and distribute the quota of rare earth mining," said the source. But he did not disclose the list of companies.
The source added that the private enterprise wants to take part in rare earth mining and application only by shareholding of the above state-owned enterprises. South China, where there are a lot of heavy rare earth resources, will be the point of this integration.
Inner Mongolia Baotou Steel Rare Earth Hi-tech Co., Ltd will control the light rare earth resources in the northern region of China, especially in Inner Mongolia; the control right of heavy rare earth in Jiangxi will be obtained by China Minmetals Rare Earth Co., Ltd. and Aluminum Corporation of China; Jiangxi Copper Corporation, China Nonferrous Metal Construction Co., Ltd. may take control of heavy rare earth resources in Sichuan and Guangdong.
