Rare-earth wars: China expands production to squeeze US entrants

Beijing keeps prices low as Washington seeks to boost homegrown players

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A wheel loader piles up rare earth on a quay at the Port of Lianyungang in Lianyungang city, in China's Jiangsu province. China accounts for 70% of global rare-earth production.  © AP

SHUNSUKE TABETA, Nikkei staff writer

BEIJING -- China, the world's largest producer of rare-earth metals, will expand production to record levels, as it seeks to maintain its global dominance in the field.

The Ministry of Industry and Information Technology has set this year's production quota at 132,000 tons, 10% higher than last year. This will be the second consecutive year that production hits a record high.

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