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China's rare earth exports down 36.7% in Jan-Jul

Aug. 22, 2012 (China Knowledge) - The export volume of rare earth ore, metals and mixtures in China, the world's biggest rare earth supplier, plunged 36.7% YoY to 21,729 metric tons in the first seven months of this year, according to the figures from China Customs Statistics Information Centre.

In July, the export volume of rare earths in China was 3,746 metric tons, down 23.6% from the same month of last year.
Earlier this month, China announced a further tightening of rules about the production of rare earth metals, under which mixed rare earth mining companies will have to be able to produce a minimum of 20,000 metric tons of rare-earth oxides and a rare-earth smelting company has to have a minimum annual production capacity of 5,000 metric tons.

The country also said that will shut down about one-fifth of its rare earth production capacity.

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