Beijing tightens control of rare earths

State-owned mining companies will be able to acquire smaller producers of rare-earths as China continues to tighten its control over the industry, The Wall Street Journal reported. China’s largest rare-earths producer, Inner Mongolia Baotou Rare-Earth Group Hi-Tech (600111.SHA), said on Friday it acquired nine rare-earths mining companies from the government of Inner Mongolia. Around 80% of the world’s rare earths output, which are used in strategic industries such as defence and telecommunications, comes from China.