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China to continue regulating rare earth mining industry: official

08-08-2011 16:50 BJT

HOHHOT, Aug. 8 (Xinhua) -- An official said on Monday that China will continue its efforts to regulate the rare earth mining industry during the second half of this year.

The country will issue a series of industry regulations "as soon as possible," targeting items ranging from rare earth metal production caps and industry entry thresholds to qualifications for mergers and acquisitions in the sector, Jia Yinsong, an official from the Ministry of Industry and Information Technology (MIIT), said at the China Rare Earth Forum, held in the city of Baotou in north China's Inner Mongolia Autonomous Region.

Regulations regarding rare earth production quotas have been drawn out and will be made public soon, Jia said. However, he did not provide any details about the new regulations.

According to Jia, a nationwide campaign will be launched during the second half of 2011 to regulate the rare earth production sector, while the MIIT and the ministries of supervision and environmental protection will supervise and inspect the campaign's operations.

The country also plans to increase financial support for technological innovation in the sector, especially for research on rare earth applications and new material development, he said.

Rare earth metals refers to a group of 17 metals that are widely used to manufacture high-tech products such as electric car batteries, wind turbines and aerospace alloys.

China is now the world's largest rare earth metal producer, supplying more than 90 percent of the world's supply of the metals.

Editor:Wang Xiaomei |Source: Xinhua

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