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Gold/Mining/Energy : A to Z Junior Mining Research Site

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To: 4figureau who started this subject	8/7/2002 12:01:56 AM
From: 4figureau	Read Replies (1) of 5423

China Bans Foreign Invest In Rare Earth Mining, Smelting BEIJING -(Dow Jones)- China's State Development and Planning Council has prohibited foreign investment in the mining, smelting and separating of rare earth compounds. Foreign investment in rare earth ventures will now be limited to processing facilities, a statement posted late Tuesday on the council's Web site said. The prohibition comes as China has been seeking to clarify its murky investment laws by updating guidelines on foreign investment to reflect market- opening commitments made to the World Trade Organization. China entered the global trade body in December 2001. Those clarifications were articulated in an updated version released in March of China's "Catalog for the Guidance of Industries for Foreign Investment," which outlines categories that define business activities in which foreign investment is "encouraged," "restricted" or "forbidden". The March catalog significantly reduced the "forbidden" foreign investment listings, but China has maintained bans on foreign investment in areas it regards as vital to its national security, including the military and electricity grids. biz.yahoo.com

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