Molycorp Inc. owns one of the two most advanced
major rare earth projects expected to come on
stream this year. Its mill and cracking facilities
(pictured), which prepare rare earth ore for
separation into usable products, is under
construction in California.
China’s move to decrease export quotas for the first half of 2012 is unlikely to have an immediate impact on falling rare earth prices, according to analysts in the sector.
The Chinese Ministry of Commerce (MOFCOM) reduced official exports limits by 27% year on year for H1 to 10,546 tonnes, saying it expects the annual quota to be at roughly the same level as 2011.
China’s reduced export quotas had a significant impact on rocketing rare earth prices in the first half of 2011, but demand waned in H2.
MOFCOM said that China’s rare earth exports totalled 14,750 tonnes in the first 11 months...