China is pondering on a national rare earth stockpile plan, which might came out in February, the China Business reported, citing a report by an investment institution.
The story quoted officials and sources in the industry as saying that although the exact time of the plan is uncertain, stockpiling is for sure the right policy direction.
Xu Guangxian, a rare earth scientist, has suggested to spent 1 billion yuan a year on building a reserve system of rare earth that is similar with the oil reserve of OPEC.
The national plan might be based on the current system, when firms make their stockpile plan, largely at its own cost.
In the beginning of 2010, the Inner Mongolia Autonomous Region put into practice a stockpile plan within the region. The Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co Ltd is the main party that will put the plan into practice. It is expected to take care of the main cost, too. The local government and its parent company will support.
The national plan, in addition to the reduced quota since December, might bring up rare earth price further. The article quoted businessmen as saying that they expect the price will rise after the Chinese spring festival.
Here is the story on China Business:
http://news.hexun.com/2011-01-15/126810500.html
A Xinhua story on the plan of Baotou is here:
http://news.xinhuanet.com/fortune/2010-03/01/content_13073803.htm
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