China Issues Additional 10,680t Rare Earth Export License

Ministry of Commerce of China issued additional 10,680 tonnes of rare earth export license for 2012. Ministry of Commerce released the license for 11 companies including Aluminum Corporation of China and Baogang Group. Ministry of Commerce issued license for 9,490 tonnes of light rare earth and 1,190 tonnes of heavier rare earth for the companies while Ministry of Commerce suspended the release of the license during review of environmental impact.

Ministry of Commerce issued 10,546 tonnes of the first batch of the export license for 2012 at end of 2011. The first license included license for 9,095 tonnes of light rare earth and 1,451 tonnes of heavier rare earth for 9 companies including China Minmetals Corporation. The total export license is 21,226 tonnes including 18,585 tonnes for light rare earth and 2,641 tonnes for heavier rare earth.

Light rare earth includes cerium, which is used for polishing agent, lanthanum, which is used for catalyst and optical glass, and neodymium of magnet material. Heavier rare earth includes dysprosium, which is added for magnet.