China to merge rare earth giants, expected to produce 45,000 tons per year

Several of China's rare earth producers are planning to join together, creating the country's second-largest rare earths producer by capacity. A subsidiary of China Minmetals Corporation, China Minmetals Rare Earths, has told the Shenzhen Stock Exchange that its parent company is launching a cooperative arrangement with another state-owned firm, Chinalco Rare Earth & Metals, as well as with the government of Ganzhou City, Jiangxi Province, a major center of rare earths production. Details of the restructuring are currently under discussion, it said. Analysts say the combination will be able to produce around 45,000 tonnes per year of rare earth oxides, widely used in electronic device manufacture. China Minmetals Rare Earths has seen its share price climb more than 230 percent year-to-date as rare earth prices have risen on fears of tight supply. __________________ Powered by Shanghai Media Group, ShanghaiEye focuses on producing top-quality content for Facebook, Twitter, Instagram and Youtube. Nobody knows Shanghai better than us. Please subscribe to us ☻☻☻ __________________ For more stories, please click ■ What's up today in Shanghai, the most updated news of the city    • Playlist   ■ Amazing Shanghai, exploring the unknown corners of the city, learning the people, food and stories behind them    • Amazing Shanghai and China 淘宝魔都玩转中国   ■ What Chinese people's lives are like during the post COVID-19 period    • COVID-19 新冠疫情   ■ Views of foreign scholars on China and its affairs    • Voices, Let's Listen! 听她他说   ■ Foreign faces in Shanghai, people living in this city sharing their true feelings    • Playlist   ■ Mini-docs showing why China is the country it is today    • Stories & Documentary 奇闻逸事记录中国   __________________ ☎Leave us messages if you have any suggestions or questions! Thank you!