Chinese rare earths producer suspends output

Oct 25, 2012

(AP)—China's biggest rare earths producer has suspended output in an effort to shore up slumping prices of the materials used by makers of mobile phones and other high-tech products.

Baotou Steel Rare-earth (Group) Hi-tech Co. said in a statement released through the Shanghai Stock Exchange that it suspended production Tuesday to promote "healthy development" of the rare earths market.

It gave no indication when production would resume and phone calls to Baogang were not answered.

The suspension comes amid efforts by China's government to tighten control over rare earths mining and exports to capture more of the profits that flow to Western makers of lightweight batteries and other products made of rare earths.

Explore further: 33 years after creating the PC, IBM leaves it behind in favour of the cloud

3.5 /5 (2 votes)
add to favorites email to friend print save as pdf

Related Stories

China rare earths supplier suspends production

Oct 20, 2011

(AP) -- China's biggest producer of rare earths is suspending production for one month in hopes of boosting slumping prices of the exotic minerals used in mobile phones and other high-tech products.

China cuts rare earths mining permits

Sep 19, 2012

(AP)—China has cut the number of permits for rare earths mining in a new move to tighten controls over the exotic minerals needed to manufacture mobile phones, electric cars and other high-tech goods.

China to raise rare earths production this year

Mar 31, 2011

(AP) -- China said Thursday it will increase this year's production quota for rare earths but gave no sign it might reverse plans to cut exports of the exotic metals needed by high-tech industry.

China announces shakeup of rare earths industry

Feb 16, 2011

(AP) -- China plans to tighten control over rare earths producers and restrict output in a five-year development strategy, the Cabinet said Wednesday, amid concern abroad about plans to reduce exports of the exotic minerals ...

China plans restructure of rare earths industry

Jun 08, 2011

(AP) -- China is giving its biggest, state-owned rare earths miner and producer a monopoly for the northern part of the country in reforms aimed at bringing the strategically important sector that's crucial to advanced manufacturing ...

China cuts 2012 rare earths export quota

Dec 28, 2011

(AP) -- China announced a cut Tuesday in its rare earths export quota as it tries to shore up sagging prices for the exotic metals used in mobile phones and other high-tech goods.

Recommended for you

HP sales inch up while profit drops

6 hours ago

Hewlett-Packard on Wednesday reported that its quarterly revenue was nudged up by improved computer sales, but its profit dropped as the veteran technology firm tried to renew its momentum.

Restaurants experimenting with pay-in-advance tickets

9 hours ago

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

Chip maker Infineon to buy California firm for $3B (Update)

11 hours ago

German chip maker Infineon Technologies AG says it has agreed to pay $3 billion in cash for California-based semiconductor firm International Rectifier, which produces power-management components used in everything from cars ...

User comments : 0