China to Go on Rare Earth Buying Spree

Industry sources say that China is likely to purchase billions of yuan of rare-earth minerals starting next month to bolster its strategic reserves, Ecns.cn reported.

As quoted in the market news:

Du Shuaibing, an analyst with market trends firm Baichuan Information, said that six large rare-earth producers are on the list for the purchasing program, which was launched last year.

Du said it is likely that the plan involves about 10,000 metric tons of rare earths.

Click here for the full report on Ecns.com