Economy
Inner Mongolia to reshape rare earth sector
(Xinhua)
Updated: 2011-06-03 13:56
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HOHHOT - Authorities in North China's Inner Mongolia autonomous region on Friday ordered the restructuring of the region's rare earth industry in order to ensure that it will grow sustainable.
Four rare earth producers in the cities of Hohhot, Baotou and Bayannur will be merged by the State-owned Baogang Group and 31 others will be closed, the regional economy and information technology bureau said in a statement.
The move will help the Baotou-based Baogang Group become the sole rare earth producer in Inner Mongolia and ensure the industry's sustainable development, it said.
Last month, the State Council, or China's cabinet, issued a regulation ordering tougher environmental standards for the rare earth industry and punishments for rare earth companies that conduct illegal production activities.