Rare earth use to soar
Source: www.chinamining.org Citation: Reuters Date: September 18, 2015
Chinese rare earth demand is likely to soar by more than 50 percent in the next five years, putting pressure on authorities to relax tough production quotas that have spurred illegal mining and rampant smuggling.
Chen Zhanheng, vice-secretary general of the Association of China Rare Earth Industry, told a conference in Shanghai on Thursday that domestic consumption was expected to rise nearly 9 percent this year to 97,700 tons. Consumption would end the decade at nearly 150,000 tons.
With China expected to export at least 30,000 tons of these minerals through official channels this year, the production cap of 105,000 tons is unlikely to satisfy total demand, meaning that there are still incentives for illegal producers.
"It is not very easy to close all illegal mines and it is very easy for illegal miners to steal from the mines. Costs are low, the mines are scattered and some local governments also protect illegal miners," said Chen.
About CHINA MINING
Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Congress and Expo 2015 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 20th-23rd, 2015. We invite you to join the event and to celebrate the 17th anniversary of CHINA MINING with us. For more information about CHINA MINING 2015, please visit: www.chinaminingtj.org.
