China to increase rare earth purchase: Industry

China is likely to purchase billions of yuan of rare-earth minerals starting next month to bolster its strategic reserves, industry sources said.

Du Shuaibing, an analyst with market trends firm Baichuan Information, said that six large rare-earth producers are on the list for the purchasing program, which was launched last year.

This round of purchases will target medium and heavy rare earths, which are more valuable but less common than light rare earths, he added.