China nationalizes 11 rare earth mines

- January 20th, 2011

AFP reports that China has brought 11 rare earth mines under state control as Beijing consolidates the industry.

AFP reports that China has brought 11 rare earth mines under state control as Beijing consolidates the industry.

The market news is quoted as saying:

China, which produces more than 95 percent of the world’s rare earths, has tightened control over the metals by slashing quotas for overseas shipments, hiking export taxes and cracking down on heavily polluting mines.

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