China's next year or set up rare earth reserve system to establish a joint development mechanism

"Next year, China is expected to set up a rare earth resource reserve system and increase the reserve of rare earth strategic resources." On October 26, a person from the China Rare Earth Society told this reporter that China's rare earth national reserve system is expected to be put on the agenda.

The reporter also learned from the Ministry of Land and Resources that the pilot project of China's rare earth strategic resource reserve system is progressing steadily and is expected to be fully implemented.

Prior to this, rare earth industry insiders repeatedly called on China to establish a strategic reserve system for rare earths as soon as possible to strengthen resource protection; China’s largest rare earth production company, Baotou Steel’s rare earth, has initially carried out spontaneous corporate storage in the first half of this year.

“The collection and storage scheme of Baotou Rare Earth has been recognized and supported by the government. It is actually a pilot work,” said the above sources.

According to the reporter’s understanding, the reserve funds required for Baosteel's rare earth raw material storage and storage program are mainly borne by the company itself, and the Inner Mongolia government has a discount of 10 million yuan.

The above sources told this reporter that on October 14, the Ministry of Land and Resources held a meeting to discuss the Inner Mongolia Rare Earth Development Project, affirming the remarkable effect of Inner Mongolia's rare earth remediation, and mentioned “fully promoting the reserve of rare earth strategic resources and establishing a national light rare earth development linkage as soon as possible. mechanism".

However, the source said that China's rare earth reserves face difficulties, first, the reserve funds are not in place, and second, the integration of rare earth industry is not in place.

Taking Baotou Steel Rare Earth as an example, despite the government's interest-bearing support of Baotou Steel's rare earth storage and storage, due to the heavy operating burden of the company itself, the storage and storage capacity is very limited.

In addition, there are many rare earth enterprises in China and there is a lack of a unified inquiry system, which leads to different prices for the same type of products.

In response, the Ministry of Land and Resources stated that the mineral resources such as rare earths should ensure the completion of the task of integration by the end of 2010. According to the above-mentioned person from the China Institute of rare earths, “integration is a condition for establishing a purchasing and storage system. With the remarkable effect of rare earth integration, the goal of establishing a purchasing and storage system is getting closer and closer.”