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Ningbo Able Magnetic Co., Ltd.
Ningbo Able Magnetic Co., Ltd.  

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Ningbo Able Magnetic Co., Ltd. [China (Mainland)]


Business Type:Manufacturer, Trading Company
City: Ningbo
Province/State: Zhejiang
Country/Region: China (Mainland)

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China to become rare earth importer
Chinese Society of Rare Earths director Chen Zhanheng said by proxy that Chinese consumption of rare earth materials was growing rapidly and that China's exports of the materials have peaked. The organization is projecting that China will become a net importer by 2015 if not sooner.
This conclusion is in keeping with other presentations at the recent Cambridge House Critical Metals Investment Symposium, which took place in Vancouver recently. The projections were foreshadowed in last December's report from the U.S. Department of Energy.
The news continues to echo through the wires, such as in today's Australian. Though the Chinese Society's presentation was delivered last week, the director was not present.
The markets weren't entirely rosy for all, despite the anticipated tightening in rare earth metal and mineral supplies. Wednesday, prices for shares of Lynas corporation were off almost 10% after a Finance News Network story that chairman Nick Curtis sold 7 million shares, worth $13.5 million, leaving him with just over 1 million shares in the company. Fairfax Media indicated that Curtis' super fund and investment company still retain 14.93 million Lynas shares and 31 million employee-incentive options.
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