China plan to cut rare earth export increase local miners surging on share market
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Monday, 03 Jan 2011
It is reported that China decision to cut exports of rare earths has sent local rare earth miners surging on the share market.
Rare earths are used in electronic equipment, like televisions and mobile phones. China has announced it will reduce its first-half quota of exports by 35%.
The Australian rare earths producer Lynas Corporation has climbed nearly 10 per cent.
Lynas operates the Mount Weld mine, south of Laverton in WA's Goldfields.
Mount Weld is said to be the richest known deposit of rare earths in the world.
(Sourced from www.abc.net.au)
