SASAC announcement on the establishment of China Rare Earth Group

In order to realise complementary advantages of rare earth resources and coordinated development of rare earth industry, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) announced the establishment of China Rare Earth Group, creating the world’s largest producer of strategic rare earth elements and reinforcing the central government’s direct control. The merger was proposed by China Minmetals Corp, Aluminum Corp of China, Ganzhou Rare Earth Group, China Iron & Steel Research Institute Group, and Youyan Technology Group. The merger was then approved by the State Council. SASAC fulfils the responsibility of stakeholder on behalf of the State Council.

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