China establishes new state-owned rare earth giant amid surging demand for the key resource

china rare earth

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China on Thursday announced the establishment of state-owned China Rare Earth Group, part of the efforts to improve the management of the key resources. 

The the rare-earth behemoth, said to be one of the world's largest, indicates China may enforce stricter quotas on the production and exports of the strategic resources after years of unregulated exploitation, which will help ensure the sustainable development of the industry, analysts said. 

 

 

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