Review of tungsten regulation in China
China suspends tungsten, antimony and rare earth mining applications until 2011
China decided to continue its control over the mining of tungsten ore, antimony ore and rare earth, the Ministry of Land and Resources announced on March 15.
According to the announcement, applications for tungsten ore, antimony ore and rare earth exploring and mining will be suspended until June 30 next year.
Maintaining control over the mining is to prevent over-exploitation and protect the resources, Shanghai Securities News reported Tuesday, citing an official with the Ministry of Land and Resources.
"Tungsten ore, antimony ore and rare earth are preponderant mineral resources of China," said the official.
"The government wants to help producers increase bargaining power in price talks," said Yao Chunlei, analyst at Guoyuan Securities Co. "China's rare earth miners don't have much say in price negotiations. The resources were sold too cheaply."
China plans to cap output of tungsten metal at 80,000 tons, antimony at 100,000 tons and that of rare earth at 89,200 tons, for 2010, the statement said. It has targets for provinces and companies.
"The policy is aimed at protecting and effectively utilize China's advantageous mineral resources," the ministry said.
This has been one of the reason of tungsten rising price.
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