Twice a year, China sets quotas for the extraction and processing of rare earths, including refining and separation. This is watched with interest in the industry, as it allows conclusions to be drawn about the supply situation. A slight increase in the production quota of just under six percent is expected for the full year 2024. Chen Zhanheng, Deputy Secretary General of the Association of China Rare Earth Industry, expects 270,000 tons, as Reuters reported. In 2023, the targeted production volume was 255,000 tons. The original figure of 240,000 tons was increased by the issue of a third quota in mid-December, which is rather unusual.
The Ministry of Industry and Information Technology sets the values, which then issues the quotas to the two largest companies in the industry (China Northern Rare Earth Group and China Rare Earth Group).
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