Rare Earth Reserves, the No. 1 Chinese Enterprise in the World

At present, the most eye-catching is iron ore price negotiations, and Sinosteel cooperation has shown a tougher attitude for buyers.

This kind of tough attitude has never appeared in the negotiating table of China's rare earth industry. In recent years, there has been more and more criticism of the price of rare earths for selling soil.

In September 2008, a long article by Dr. Qingyan from Peking University, "China should immediately ban rare earth exports," is the first time Chinese scholars have explained the reasons for China's ban on rare earth exports from political, military and economic heights. The article pointed out that if the state does not take effective measures to restrict or stop the export of rare earths as soon as possible, it will inevitably affect the sustainable development of related industries and even endanger China's industrial security.

Therefore, under the leadership of the National Development and Reform Commission and the Ministry of Commerce, the relevant state departments should review the rare earth products annually to determine the scope of exports, implement dynamic management of export quantities, and gradually close the gates for the export of rare earth products.

Wo Lidou leads to loss of pricing power
"There is oil in the Middle East, and China has rare earths." Once in the hall of the Baotou Steel Rare Earth Building, Deng Xiaoping’s inscription was fascinated.

At present, the world's proven reserves of rare earth resources are about 92.61 million tons of REO. China's rare earth industrial reserves account for 71.1% of the world's total, reaching 65.88 million tons of REO. As the world's largest rare earth storage, production and trading country, China's proven reserves and total exports accounted for 46% and 80% respectively.

However, China's rare earths do not have pricing power in the world. The three major problems of overcapacity, disorderly competition, and a large number of cheap exports have caused China's rare earth enterprises to generally fail to cope with the risk of price fluctuations.

As the largest rare earth enterprise in the north, Baotou Steel Rare Earth achieved operating revenue of 3.225 billion yuan in 2008 last year, an increase of 29% over 2007; net profit attributable to shareholders of listed companies was 169 million yuan, down 45.11% year-on-year.

“More than 50% of our products are exported, and a small part of them are directly exported. The other part is sold to downstream manufacturers. They are processed and re-exported. The world financial crisis, especially in the high-end areas of the United States and Japan, has been hit hard. The demand for rare earths has been reduced. In order to avoid risks, there has been a lot of selling." When it came to last year, an insider of Baotou Steel Rare said.

Baotou Steel Rare Earth expects that the price of its main rare earth products will increase in the second quarter of 2009. However, due to the company's loss of 78 million yuan in the first quarter, the accumulated net profit in the first half of 2009 will still suffer losses.

"We have a lot of subsidiaries, and there are many other rare earth production companies. Everyone produces the same type of products. They are independent of each other, and they shop around. They hold a list of individual inquiries, which one is cheaper to buy, so we will There is no right to speak. This is why the rare earth only sells a price of soil." The insider explained.

Urgent need to establish a strategic reserve system for rare earths
In this case, the voices for the protection of strategic resources have long been heard. Experts have made a few years ago to establish a strategic reserve system for rare earths. In the past two years, the "two sessions" have NPC deputies and CPPCC members called for strategic storage of rare earths, but the rare earth storage system has not been put on the agenda.

What caused this situation? As a business, the above-mentioned insiders have repeatedly asked the reporters to express their own ideas: the leadership of the central government still does not pay enough attention. Although there are suggestions and instructions, there is no such thing as the following.

"In the past, a vice-president had come to Baotou eight times a year to come to such a backward western region and care about our rare earth. But now there is no such concern." The person was very emotional.

On June 2, the reporter visited the Rare Earth Development Office of the Hair Reform Committee.

"We are only in touch with the statistical reporting of the project, the coordination between enterprises, and some suggestions. Our influence on the establishment of the storage system is very small," said Director Wang.

In the second half of last year, Baosteel Rare Earth Joint Subsidiary and other enterprises formed Inner Mongolia Baotou Steel Rare Earth International Trading Co., Ltd., and purchased and directed sales of rare earth oxides and rare earth metals as raw materials for Bayan Obo Mine. The aim is to increase the right to speak about the price of rare earths.

In this regard, Director Wang said that this is the company's own business, and the rare earths will not manage it. However, he believes that it is not a long-term solution for enterprises to carry out rare earth storage and storage: "Enterprises must operate, profits are maximized, and the amount of funds is not large enough. From the perspective of national reserve strategy, rare earths should be included, and local governments are not so big. The ability to do this."

An Sihu, assistant director of the Management Committee of the Rare Earth High-tech Zone, is also actively advocating the establishment of a storage system. "Now Japan has four or fifty years of reserves of rare earth resources. We have established an international trade company to prepare for unified collection and storage."

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