China Raises Production Quota for Rare Earths

by | 1. Oct 2021 - 12:44 | Market

168,000 tons of rare earths are to be mined in China in 2021, which would be a new record.

As reported by Reuters news agency on Thursday, China has increased the annual production quota for rare earths by 20% compared to the previous year. This brings the quota for 2021 to 168,000 tons, reaching its highest level ever. The previous year’s quota was 140,000 tons. Data on the planned export of raw materials was not provided yesterday.The country’s rare earth industry may be facing a major upheaval. Last week, it was reported that the industry would be consolidated to consolidate its leading position. China is the largest exporter of the strategic raw materials, but also needs the rare earths for its own production, such as electric vehicles. Here, too, the People’s Republic is the leader.

Photo: Xinhua

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