China Announces First Half 2014 Rare Earth Export Quotas: Little Changed From 2013
Toronto, Dec 18, 2013 AEST (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 Advanced Materials Inc
Avalon Advanced Materials Inc. (TSE:AVL) (OTCMKTS:AVLNF) (formerly Avalon Rare Metals) is a Canadian mineral development company specializing in niche market metals and minerals with growing demand in new technology. The Company has three advanced stage projects, all 100%-owned, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, niobium, and zirconium. Avalon is currently focusing on its Separation Rapids Lithium Project, Kenora, ON and its East Kemptville Tin-Indium Project, Yarmouth, NS. Social responsibility and environmental stewardship are corporate cornerstones.
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