China sets up rare earth body to shake up industry

BEIJING (Reuters) - China on Sunday set up a rare earth industry association, state media reported, in a move to speed up consolidation of its sprawling industry that has drawn fire for what overseas trade partners call unfair export quotas. The association, with 155 members across the country, will report to the Ministry of Industry and Information Technology, which regulates rare earth production, the official Xinhua news agency said. Baotou Steel Rare Earth in Inner Mongolia, Rising Nonferrous in Guangdong and China Minmetals are among 13 heavyweight members, Xinhua said. …

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