"The Chinese Government has raised entry barriers of the rare earth sector to preserve the rare earth resources and ecological environment and standardised production and operation of the industry in a bid to facilitate the healthy and steady development of the entire industry. In June 2012, the State Council Information Office published its first white paper entitled "Situation and Policies of China's Rare Earth Industry." The white paper stated that the Chinese Government will enhance the regulation of rare earth mining, production and exports and, at the same time, will guarantee a supply of rare earths to the international market. As a result of the state policies, the Group believes that the supply of rare earth materials will tighten and the prices of rare earth materials will continue an upward trend over the mid-to-long term. In its business and operations, the Group will continue to follow the national directives to increase rare earth reserves at reasonable prices and secure a stable supply in the long run. In regards of refractory materials, the Group will strive to expand its customer base and enrich its product mix so as to achieve stable development."
LYC Price at posting:
64.0¢ Sentiment: LT Buy Disclosure: Held
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