Rare earths firms go high tech to tap world market

The rare earths industry in Baotou, the Inner Mongolia autonomous region, is seeking more technology-intensive deep processing to further tap into the international market, said officials in the city.

Wang Zhonghe, Party chief of Baotou, said that the city has set the goal of upgrading its rare earths industry from just exploiting raw materials to developing more comprehensive deep processing technologies with higher added value.

"By the end of 2017, the value of the annual rare earths output in Baotou is expected to reach more than 40 billion yuan ($6 billion). The city will become the biggest rare earths hydrogen storage and technological research and development base," said Wang at the China Baotou International Rare Earths Industry Forum on Monday.