Home Business Another new state-owned enterprise is here!China Rare Earth Group Co., Ltd. was established-Economic Observer Network-Professional Financial News Website

Another new state-owned enterprise is here!China Rare Earth Group Co., Ltd. was established-Economic Observer Network-Professional Financial News Website

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Economic Observer Network reporter Wang Yajie On December 23, China Rare Earth Group Co., Ltd. was formally established.

China Rare Earth Group Co., Ltd. is incorporated by China Aluminum Corporation, China Minmetals Corporation, and Ganzhou Rare Earth Group Co., Ltd. to achieve complementary advantages in rare earth resources and synergy in the development of the rare earth industry. The company and other two rare earth technology research and development enterprises are large-scale rare earth enterprise groups established in accordance with the principles of marketization and rule of law.

The reporter of Economic Observation Network learned that the formed China Rare Earth Group is a central enterprise with diversified equity under the direct supervision of the State-owned Assets Supervision and Administration Commission of the State Council. The shareholding structure is: 31.21% held by the State-owned Assets Supervision and Administration Commission of the State Council; China Aluminum Corporation and China Minmetals Corporation And Ganzhou Rare Earth Group Co., Ltd. each hold 20.33%; China Iron and Steel Research Technology Group Co., Ltd. and Youyan Technology Group Co., Ltd. each hold 3.90%. The establishment of China Rare Earth Group is an exploration and experiment of Chinalco, China Minmetals and Ganzhou Rare Earth Group based on their own development needs and adapting to the law of industry development.

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