China Cuts REM Rights in Half

China has slashed their mining rights in two, as a bid to raise the price of REMs (rare earth metals). This will strengthen their pricing power over international markets, and limit irregularities in the industry.

China’s rare earth mining rights are being cut from 113 points to 67 according to an announcement on the Ministry of Land and Resources’ official website. Now local governments are enacting mining rights design schemes.

Read more at the Morning Whistle