China to increase tax on rare earths
Published: Friday, 21 November 2014
A possible reform planned by the Chinese government, which would set a tax rate up to 35% on heavy rare earths, would impact the rare earths domestic market and potentially likely to push up rare earths prices. There are also some concerns over harming qualified producers and the threat illegal mining.
The Chinese government has drafted a
proposal imposing a 22% value tax on light rare
earths and a 35% tax rate on heavy rare earths from ionic clays
in southern China.
China’s resource tax on light rare earths,
including bastnaesite and monazite, has been at Chinese
renminbi (Rmb) 60/tonne ($9.6/tonne*) since April...