Baotou outlines support initiatives for Inner Mongolian rare earths

The total funds earmarked for this purpose last year reached Chinese renminbi (Rmb) 310m ($47.3m*), up 138% on the previous year, doubling the output of rare earths-based new materials. Sihu An, director of Baotou's Rare Earth Hi-Tech District Rare Earth Industry Bureau, said that financial support will be awarded as a proportion of company turnovers; 4% for permanent magnet and hydrogen storage materials and 2% for polishing materials, plus an extra 2% of any increase in annual turnover. The cost of medium-yttrium and rich-europium graded material was increased by Chinese Rmb 15,000/tonne ($2,312/tonne) to Rmb 195,000/tonne ($30,061/tonne). Longnan and Anyuan-decried high-yttrium ore went up by the same amount, to Rmb 205,000/tonne ($31,600/tonne) and Rmb 195,000/tonne ($30,061/tonne), respectively. Xunwu-sourced low-yttrium and low-europium material will increase in price by Rmb 10,000/tonne ($1,542/tonne), to Rmb 190,000/tonne ($29,284/tonne).