The Chinese price of praseodymium-neodymium alloy, used to make super strong magnets for EV motors, doubled last year and has already shot up 10% this year

Combined entity would account for about 70% of China's heavy rare earths production based on quotas for the first half of 2021

China is expanding Baotou Rare Earth High and New Tech Industrial Development Zone in Inner Mongolia, as the country maintains its grip on the majority of the world's rare earths trade

Beijing has responded angrily to a US executive order to look into the country's dependence on rare earths from China.

Ministry says China will increase oversight and boost production of the 17 rare earth minerals to 140,000 tonnes this year from 120,000 tonnes last year