As I said in November's "Rare Earth: Inner Mongolia Baotou Steel Rare Earth Hi Tech Co. Ltd. Reports 369% Increase in Q3 Net":
This is the big dog.Here are the 2011 export quotas.
And one that the Chinese government says will be on top of the mandated industry consolidation.
Here's the latest, from China's Global Times:
Record growth for Baotou Steel Rare-Earth Co
Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co, the nation's largest rare earth producer by output, reported Thursday a record 1,246.18 percent surge in net profit in 2010.We have a lot of posts on IMBSREHTCL, here's one of the more popular. From a couple years ago:
The Shanghai-listed company said in its annual report that revenue increased 102.8 percent last year to 5.26 billion yuan ($804.03 million), with net profits up 1,246.18 percent to 750 million yuan ($114.6 million).
The company attributed the results to rising prices of rare earth products driven by favorable government policies and increasing demand, as well as the successful expansion of its rare earth business in South China.
"The average prices of lanthanum oxide, cerium oxide and praseodymium neodymium oxide, major rare earth products of the company, have increased by 23.62 percent, 54.39 percent and 131.61 percent respectively in 2010, returning to the level before the financial crisis," said Liu Jinbo, an analyst at Xiangcai Securities.
The company also announced a plan to take a 100 percent stake in its subsidiary, Baotou Huamei Rare-earth Products Co, up from the 33.3 percent it had in 2003....MORE
With a Name Like Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co., it has to be good ( 600111:Shanghai)
In December 2007 I wrote:
How the heck did I miss Mongolia Energy Co. Ltd.?...The question has haunted me to this day.
[you really need to get out more -ed]
MEco was the number two stock in the Bloomberg Worldwide Index that year, up 5911.17%.
I vowed that I "will study and learn, and one day my chance will come."
[ummm, wasn't that Lincoln?]
So when a reader emailed in response to this morning's "China tightens grip on rare earths":
"How do I participate?"I had the [a -ed] answer.
IMBSREHTco's parent company has world’s largest rare earths deposits.
[the first letters of the acronym are IMBS, tee hee -ed]
Here's BusinessWeek's snapshot...
...Here's the extent of my knowledge of Mongolia's fashion scene:
From the Mongolia Today article:
Nomadic chic hairdo
Reconstructed by M.Chimeddorj