Printer Friendly

Industry Bulletin: China Announces First Half 2014 Rare Earth Export Quotas: Little Changed From 2013.

Toronto, Canada, Dec 18, 2013 - (ABN Newswire) - Avalon Rare Metals Inc.(TSE:AVL) (NYSE-MKT: AVL) ("Avalon" or the "Company") is pleased to report on the recently announced first round allocations of rare earth elements export quotas for 2014, to companies operating in China, from the Chinese Ministry of Commerce (MOFCOM). A total of 15,110 tonnes of export quotas was allocated in this first round, compared to 15,499 tonnes for the first half of 2013.

The 15,110 tonnes of export quotas is comprised of 13,314 tonnes of light rare earth element (LREE) products and 1,796 tonnes of heavy rare earth elements (HREE) products.

It was also reported that, according to MOFCOM, one company that usually receives export-quota allocations, Inner Mongolia Baotou Hefa Rare Earth Co., will not be given a specific allocation until it has rectified environmental issues at its facilities. The following table shows the quota allocations for the past six years:

The announced quotas for 2014 also indicated a split between the LREE and the HREE. If the second half allocations in 2014 are similar to these recently announced first half allocations, then HREE products in 2014 are approximately 11.9% of the total. This compares to 11.7% for 2013 and 12.5% for 2012, the first year that the quotas were split in this way.

It remains to be seen if the second half allocations will also be unchanged from 2013 and if the annual total REE export quotas will stay at the 30,000 to 31,000 tonne level in 2014.

About Avalon Rare Metals Inc.:

Avalon Rare Metals Inc. (TSE:AVL) (NYSE-MKT:AVL) is a mineral development company focused on rare metal deposits in Canada. Its flagship project, the 100%-owned Nechalacho Deposit, Thor Lake, NWT is exceptional in its large size and enrichment in the scarce 'heavy' rare earth elements, key to enabling advances in clean technology and other growing high-tech applications. With a positive feasibility study and environmental assessment completed, Nechalacho remains the most advanced potential large new source of heavy rare earths in the world outside of China, currently the source of over 95% of the world supply. Avalon is well funded, has no debt and its work programs are progressing steadily. Social responsibility and environmental stewardship are corporate cornerstones.

Copyright 2013 ABN Newswire Provided by Syndigate.info , an Albawaba.com company
COPYRIGHT 2013 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:ABN Newswire
Geographic Code:9CHIN
Date:Dec 18, 2013
Words:395
Previous Article:Tellus Resources Limited (ASX:TLU) Farmin to US Oil Play & Placement.
Next Article:Rum Jungle Resources Limited (ASX:RUM) Karinga Lakes Potash Pre-Feasibility Study.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters