China's Ministry of Commerce Cuts Rare Earth Export Quotas by 72%
CONFIRMÉCONFIANCE 90 %Bloomberg[2] reported the Ministry of Commerce's 72% cut to second-half 2010 rare earth export quotas, citing the official quota figures, on July 9, 2010.
China's Ministry of Commerce slashed its second-half 2010 rare earth export quotas by 72%, tightening its grip on the roughly 97% of global rare earth supply it mined at the time. The move, framed as an environmental crackdown on unregulated mining, sent rare earth prices soaring within days.
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