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China To Create New State-Owned Rare Earths Giant: WSJ

The move is being seen as a bid to strengthen China’s dominance of the global supply chain around the strategic metals


China rare earths
The new firm will be called the China Rare Earth Group.

 

China has approved a plan to create one of the world’s largest rare earths companies as it bids to solidify its dominance of the global supply chain of the strategic metals as tensions deepen with the US, according to the Wall Street Journal.

The new firm will be called China Rare Earth Group and would be created by merging rare earths assets from some state firms, including China Minmetals Corp, the Aluminum Corp of China Ltd and Ganzhou Rare Earth Group Co. Some estimates claim China mines 70% of the world’s rare earths and is responsible for 90% of their processing before use in numerous batteries, magnets and tech products. Full story: The Wall Street Journal

 

  • By Sean O’Meara

 

Read more:

China’s Rare Earths Exports Rise To Seven-Month Peak

Quad Nations To Cooperate On Rare Earths, Chips and Tech Supply Chains

French Researchers Strive to Break China’s Hold on Rare Earths

 

Sean OMeara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.

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