In order to curb the blind production of rare earth enterprises and protect rare earth resources, the Ministry of Industry and Information Technology recently issued a directive production plan for rare earth mineral products and smelting and separation products in 2009, which was reduced by 8.1% and 6.9% respectively compared with 2008.
The production plan indicators have been issued to the industrial authorities of 11 provinces (autonomous regions) such as Inner Mongolia, Jiangxi, Sichuan, and Jiangsu, and are distributed directly to enterprises. Among them, the directive production plan for rare earth minerals was 119,500 tons, down 8.1% year-on-year; the directive production plan for rare earth smelting and separation products was 110,700 tons, down 6.9% year-on-year.
Rare earth is not an ordinary "soil", but the collective name of 17 kinds of metal elements. Due to its many excellent physical properties such as light, electricity and magnetism, it can be combined with other elements to form a wide range of new materials with different uses. Rare earth is an important strategic resource that relates to national security and development.
China's rare earth resources are abundant. However, since rare earth products in China have no pricing power in the world and other reasons, rare earths have only been able to sell "earth prices." Moreover, since last year, the international financial crisis has led to a sharp drop in the world economic growth and a decline in the demand for mineral products, which has triggered a sharp decline in the prices of rare earth minerals. And CIC consultants expect that the consumption of rare earth minerals in 2009 will continue to decline.
China Investment Advisor believes that the decline in rare earth prices is weakening the competitiveness of China's rare earth minerals in the international market. Given the current international and domestic economic situation, it is necessary to further control rare earth products in order to stabilize prices.
In order to protect China's rare earth resources, the Ministry of Industry and Information Technology has recently issued a directive production plan for rare earth mineral products and smelting and separation products in 2009, down 8.1% and 6.9% respectively from 2008.
It is reported that in 2008 the country’s rare earth directive production plan was 130,000 tons of mineral products and 117,900 tons of smelting separation products (all are equivalent to oxides). Affected by the international financial crisis, China's rare earth production fell. However, due to excess smelting and separating capacity, output of smelting separation products exceeded the mandatory plan and reached 144,000 tons.
In addition, according to the latest data analysis of China Investment Advisors' Industrial Research Center, the output value of rare earth metal mining industry in China in January-February 2009 was 299.12 million yuan, a decrease of 18.99% over the same period of last year. Among them, the output value of other ownership enterprises was 208.14 million yuan, a year-on-year decrease of 35.55%, accounting for 69.74% of the industry's total output value; private enterprises realized an output value of 84.04 million yuan, an increase of 94.93% year-on-year, accounting for 28.1% of the industry's total output value.
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