Xinhuanet reported that according to a report from China's Ministry of Information and Technology, in 2013, the country's rare earth industry suffered a 28.1-percent drop in profits.
Rare Earth Market News Directory
MetalMiner reported that Lynas Corporation Ltd. (ASX:LYC) believes that demand for lanthanum will rise by 4 percent annually until 2020. That optimism has led the company to sign several contracts that will see buyers pay higher prices for Lynas' material than for Chinese material.
Mineweb reported that Hallgarten & Company's Christopher Ecclestone is bullish on almost all rare earths, excluding lanthanum and cerium, which "really spoil the mix."
Canada is poised to break into the exploration of "critical rare earths" including heavy rare earth elements, the Calgary Herald reported.
Chinese rare earth miners are being forced to phase out excessive production capacity as rising overseas suppliers chip away at their dominance in the global market, Xinhua reported via Global Times.
The Wall Street Journal reported that China's first batch of rare-earth export quotas for 2014 is set at 15,110 tonnes — a 2.5 percent decline from last year's first batch.
The Times Colonist reported that Jamaica has opened a pilot plant where researchers will test whether rare-earth elements can be commercially extracted from bauxite waste.
A World Trade Organization (WTO) dispute settlement panel has ruled against China and in favor of the United States, Japan and the European Union — upholding the latter's claims that China's export duties on rare earths violate WTO rules, Bernama reported.
Malaysians opposed to rare earths processing are angry at Lynas Corp (ASX:LYC) for refusing to disclose the location of a waste storage facility in the peninsular Asian nation, Australia Network News reported.
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.