China’s rare earth export quota to be reduced slightly for 2012

China's Ministry of Commerce of China (MOC) has stated that the country's rare earth export quota is expected to be reduced for 2012 as compared to the 2011 quota, but by a small margin. In 2011, the MOC had approved an annual ordinary rare earth export quota of 30,184 mt for a combined total of 31 enterprises. However, in the first three quarters of the current year, China's rare earth export volume reached 12,000 mt (including metals and oxides), down 65 percent year on year. Industry insiders expect the export volume for the remainder of the current year to exceed 10,000 mt.