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The giant mine in Bayan Obo, Inner Mongolia near Baotou City, produces the bulk of the world’s rare earths and does so as a byproduct of iron ore mining.Shares in China’s largest rare earth producers rose on Monday after Beijing announced regulations aimed at protecting supplies of the strategic minerals in the interest of national security, a move some in the market said could potentially tighten supply.
Shares in China Northern Rare Earth Group High-Tech, China Rare Earth Resources and Technology, Rising Nonferrous Metals Share and Shenghe Resources Holding jumped by 4.8%, 4.1%, 1.8% and 0.5%, respectively. “We believe there might be a further control over the smelting and separation of the imported ore,” Sinolink Securities wrote in a note.
“It feels like there might be a trend that exports will need some specific licence, but the wording itself does not make this clear enough,” said an analyst on condition of anonymity due to the sensitivity of the matter.
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