China Cuts Rare Earth Mining Rights by Half to Aid Consolidation

China, the supplier of 90 percent of the world’s rare earths, cut mining rights for the materials by about half to 65 nationwide to help the industry consolidate and create bigger producers.

Rare-earth mining rights in Ganzhou of Jiangxi province were reduced to 44 from 88, Chen Zhanheng, a deputy secretary-general at the Association of China Rare Earth Industry, said today in an interview. The western province of Sichuan had its rights lowered to seven from 18, while the Inner Mongolia-based Baotou Iron & Steel Group Co. absorbed its local rivals, the Ministry of Land and Resources said on its website, without giving details.