This action has been confirmed in the last 20 minutes by the Hong Kong Economic Journal. Seems to be a 6-month shutdown. This is encouraging news for all the reasons outlined above by myself, philh9 and omgwen3rds.
We are not out of the woods but I expect this will go some way towards modifying the downwards trajectory of most REOs.
Now we just need to watch the demand side.
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http://www.ejinsight.com/chinaDigest/article/id/90364
Baotou Rare-Earth suspends operations, filing says
Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co Ltd. (600111.CN) said it has suspended operations in its rare earth plants for six months from Monday
baotou's concentrate plant shut down 6 months, page-16
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