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CHINA MINMETALS RARE EARTH CO., LTD.

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China hikes 2021 rare earth quotas by 20% to record highs

09/30/2021 | 07:13am EDT
FILE PHOTO: Workers transport soil containing rare earth elements for export at a port in Lianyungang

    * Rare earth mine output quota for 2021 at 168,000 T vs 140,000 T in 2020
    * Full-year smelting and separation quota at 162,000 T vs 135,000 T in
2020
    * Tight heavy rare earth supply to persist while Myanmar border shut
-analyst

 
    By Tom Daly
    Sept 30 (Reuters) - China hiked its annual rare earth output quotas on
Thursday by 20% year-on-year to their highest levels on record, as it seeks
to ease tight supply for manufacturers.
    A statement from the Ministry of Industry and Information Technology said
the 2021 rare earth mining output had been set at 168,000 tonnes, up from
140,000 last year.
    The quota for smelting and separation - or processing of rare earths into
a form that can be used by manufacturers - is 162,000 tonnes, also up 20% on
the year, the statement showed.
    China is the world's dominant producer of rare earths, a prized group of
17 minerals used in consumer electronics and military equipment.
    It announces quotas twice a year, splitting the mining quotas into those
for light rare earths, the more common type, and heavy rare earths.
    "The quota increase was pretty inevitable with the current supply
situation in China and demand growth from NdFeB manufacturers," said Wood
Mackenzie analyst David Merriman, referring to a type of rare-earth magnet
used in consumer goods.
    Neighboring Myanmar supplies around half of China's heavy rare earths
feedstock but the closure of a key border crossing to contain the spread of
COVID-19 has seen shipments dry up.
    "I expect the tight supply situation for (heavy rare earth) feedstock to
persist until the Myanmar border reopens," Merriman added in an email.
    Quotas for the first half of 2021 were earlier set at 84,000 tonnes for
mining and 81,000 tonnes for smelting and separation. The full-year quotas,
which have been published unusually late, imply the same levels for the
second half.
    The quotas are awarded to six state-run companies, including China
Minmetals Rare Earth Co, Chinalco Rare Earth & Metals Co and
China Northern Rare Earth Group.
    The Minmetals unit last week flagged potential consolidation of the
so-called "Big Six" when it said its parent was discussing restructuring with
Chinalco and the government of rare earths hub Ganzhou.     
    
The table below shows company rare earth quotas for 2021 in tonnes.
     
 Company                           Light rare   Medium/heavy    Smelting/sepa
                                   earth ore    rare earth ore  ration
 Chinalco Rare Earth & Metals Co        14,550           2,500         23,879
 China Minmetals Rare Earth Co                           2,010          5,658
 China Northern Rare Earth Group       100,350                         89,634
 Xiamen Tungsten                                         3,440          3,963
 China Southern Rare Earth Group        33,950           8,500         28,262
 Guangdong Rising Rare Metals                            2,700         10,604
 Total                                 148,850          19,150        162,000
 
 (Reporting by Tom Daly; Editing by Kirsten Donovan and David Evans)
  

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA MINMETALS RARE EARTH CO., LTD. 0.11% 26.67 End-of-day quote.-31.65%
CHINA NORTHERN RARE EARTH (GROUP) HIGH-TECH CO.,LTD -0.26% 34.09 End-of-day quote.-25.57%
XIAMEN TUNGSTEN CO., LTD. -1.98% 19.31 End-of-day quote.-14.67%
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