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