China Looks At Implementing Tax on Rare Earth Producers

Mineweb reported that China wants to curb rare earth overproduction by imposing a valued-added tax.

As quoted in the market news:

Though the percentage of VAT is, as yet, unclear, traders say it is bound to lift prices of rare earths out of China. Once instituted, the tax would be almost impossible to avoid. The government’s move would also mean strict control and supervision over the whole process, from production to sale.

Click here to read the full Mineweb report.