China raises 2012 rare-earth export quota

China has increased its 2012 rare-earth export quota for the first time since 2005, The Wall Street Journal reported. The Ministry of Commerce said Wednesday that it will raise the 2012 quota for total rare-earth exports by 2.7% to 30,966 tonnes. China has imposed tighter limits on exports of the materials since 2005, leading to price surges beginning about two years ago and an outcry from manufacturers who require the materials to make high-tech products ranging from electric cars to ballistic missiles. China’s rare-earth exports for the first six months of the year were less than 5,000 tons, state media reported, well below the national quota. “Pressure on China [to loosen export controls] has been quite high, [China is] now signaling to the wider world not to worry,” said Frank Tang, an analyst at investment bank North Square Blue Oak.