london price up 5 per cent, page-3

The following was posted by Szalvadore on an ARU thread. Looks like good news for us.

Report (25.10.2007) KimEng securities HongKong

Minor metals reserve stockpile under consideration

Beijing is stepping up its efforts to set up a strategic stockpile system for
minor metals that are key to the economy and national defence industry and
tighten exports of metal minerals, according to industry associations. Mr Pan
also said those that were widely used in the national defence industry would
likely be included.
"For example, zirconium is an important mineral for nuclear reactors. Other
metals such as tungsten and indium are also strategic metals," he said. The
Ministry of Land and Resources said in May last year that the government
aimed to have sufficient reserves of uranium, and would start to amass
stockpiles of copper, aluminium, manganese, tungsten and other minerals in
the next few years.
The proposed metal reserve will become the mainland's third strategic
reserve after those of grains and oil. The mainland is rich in minor metals
such as tungsten, tin, antimony and rare earth but growing production for
export has resulted in more pollution and low utilisation of the resources. Yan
Bangsong, vice-chairman of China Chamber of Commerce of Minmetals &
Chemicals Import & Export, also urged the government to build a strategic
reserve of rare metals and expected more measures to tighten output.

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