Big dose of reality, page-107

Chinese politics, the Dragon has multiple faces.

Disparity in mining quotas & separation quotas set by Beijing.

Nth RE just did a deal with Xiamen Tungsten, basically LRE for HRE, given disparate resource base, China RE HK just got permission to import con to fill their separation quota in excess of primary sources.

Seriously, NTU's MOU is that fragile, ain't no shortage, just the kids aren't used to sharing.

And that's before it gets down to real life demand vs 3x collective supply.

Waiting on H1 quotas to be released but here's a basic breakdown of primary supply:



If I come across a copy of either last years quota split I'll post them, if not H1 '18 should not be far away. Any alts will be interesting.