Yunnan Allocates First Batch of tungsten and Rare Earth Mining Quotas
- Category: Tungsten’s News
- Published on Monday, 11 May 2020 20:59
According to a circular issued by Yunnan province's Department of Natural Resources last week, Yunnan issued 2,615 mt of mining quotas for tungsten concentrate and 12 mt for rare earth in the first batch for 2020.
Meanwhile, the province reserved 310 mt of mining quotas and 375 mt of comprehensive utilization quotas for tungsten concentrate and 63 mt of mining quotas for rare earth for annual adjustment. Yunnan's allocation came about three months after central authorities issued first-half 2020 rare earth and tungsten mining output quotas for the country.
Impacted by the outbreak of COVID-19, the tungsten and rare earth enterprises in Jiangxi suspended production for 15 to 20 days in the first two months, when the revenue of tungsten industry stood at 3.12 billion yuan (440.5 million U.S. dollars), down 15.2 percent year on year, and the rare earth industry at 2.25 billion yuan, down 24.3 percent year on year.
In February, China's Ministry of Natural Resources and Ministry of Industry and Information Technology jointly issued a circular saying up to 66,000 mt of rare earth and 52,500 mt of tungsten concentrate would be allowed to be dug out across the country in the first batch of mining quotas for 2020.
This batch of quotas for the country accounted for 50% of last year's allocation, and the second batch is expected to be announced in the second quarter.
Per the first batch of tungsten and rare earth mining output quotas of Yunnan province, companies can apply for additional quotas if their awards are insufficient. The government will allocate the second batch of tungsten quotas in line with national policies and market conditions.
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