Inner Mongolia Baotou Steel Rare Earth sales fall 53% in Q1 2014

By Antonio Torrisi
Published: Tuesday, 22 April 2014

Lower profits recorded by the world-biggest rare earths producer were mainly due to a decrease in sales and prices, and partially linked to the WTO’s urging China to lift exports quotas, a policy that could impact Inner Mongolia Baotou’s serious environmental issues.

China’s world-leading rare earths producer, Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co Ltd saw its sales halve in the first quarter of 2014, compared with the same period in 2013.

Net profit dropped by 71.7% year-on-year, to Chinese renminbi (Rmb) 69.4m ($11.1m*). Sales, meanwhile, fell 53%, when...

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