The Chinese Ministry of Industry and Information Technology (MIIT) published the second batch of rare earth mining and refining quotas for 2024 on Tuesday. The mining quota is set at 135,000 tons plus 127,000 for smelting and separation operations. The total mining output for 2024 is now set at 270,000 tons, which is in line with the estimate that the Deputy Secretary General of the Association of China Rare Earth Industry made in May (we reported). Compared to the 255,000 tons issued for the previous year, this marks an increase in rare earth mining output of 5.9 percent. China usually publishes official output guidelines twice per year. However, in late December last year, the People’s Republic added a third batch of quotas for the first time.
In the figure below we highlight the continuous growth in quotas issued by the Chinese MIIT:
The rare earth mining and processing quotas in China have increased continuously in the last years.
Photo: iStock/Maksim Safaniuk
