Beijing to set up tracing system to determine and certify the origin of the materials.
Lynas Mining News
As a result, all rare earths producers inside and outside China are facing extremely challenging conditions, say insiders.
About 90% of China’s rare earth producers are currently operating at a loss as prices for the coveted elements continue to drop due to a global glut and illegal mining.
While analyst predict a rebound in hard-hit rare earth prices later this year, it is still unclear whether companies outside China, the world’s largest producer, will be able to challenge its dominance.
Beijing had been widely expected to eliminate tariffs and quotas on rare earth shipments after a World Trade Organization panel branded them discriminatory last year.
'There follows in its wake signs of green shoots.'
Australian miner rockets 14% after saying first commercial rare earths available within weeks. Molycorp et al surge in sympathy.