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    Home » China Repositions Itself in Rare Earths with Major Industry Merger
    Indices News

    China Repositions Itself in Rare Earths with Major Industry Merger

    December 24, 20211 Min Read
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    A illustration of some chemical elements from the Mendeleiv periodic table: rare earth elements or lanthanides
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    China has formed a rare-earth conglomerate, China Rare-Earth Group, through a merger of several government-managed firms.

    China’s rare-earth exports
    China’s rare-earth exports
    • The companies brought together include China and Ganzhou Rare Earth Group, Aluminium Corporation of China, and China Minmetal Rare Earths Corporation.
    • The development aims to optimize resource allocation and enhance green development in the rare-earth sector.
    • China’s Asset Supervision and Administration Commission would have 31.21% ownership of the new group, while China Minmetals and Chinalco would own a 20.33% stake each.
    • China is reportedly planning to set up two behemoth firms, one in the northern part of the country and another in the South for different productions. The country currently controls a big part of the global rare earth output.
    • The stocks of China Minmetals jumped 8.5% in Shenzhen, and that of the Aluminium Corporation of China is up over 5% in Shanghai.

    Rare earths are 17 elements used as inputs in the industrial manufacture of items like smartphones and fighter jets.

    606600: SHA is down -5.44%, 000831: SHE is down -9.98%Source: Bloomberg

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