China Rare Earth Group Co., Ltd. Was Founded

Source from SASAC, December 23^rd, 2021, China Rare Earth Group Co., Ltd. was founded in Ganzhou, Jiangxi Province.

It is understood that China Rare Earth Group Co., Ltd. was established by Aluminum Corporation of China, or Chinalco, China Minmetals Rare Earth and Ganzhou Rare Earth Group in order to realize the complementary advantages of rare earth resources and the coordinated development of rare earth industry. China Iron & Steel Research Institute Group and Beijing-based Grinm Group, two prominent names in the field of rare earths for their strength in technology and research and development are also involved in this merger.

After its establishment, China Rare Earth Group Co., Ltd. is a diversified central enterprise under the direct supervision of the SASAC of the State Council. The shareholding structure is as follows: State-owned Assets Supervision and Administration Commission holds 31.21%, Chinalco, China Minmetals Rare Earth and Ganzhou Rare Earth Group hold 20.33% respectively, and China Iron & Steel Research Institute Group and Beijing-based Grinm Group hold 3.90% respectively.

According to the relevant person in charge of China Rare Earth Group Co., Ltd., under the new development pattern, the enterprise group operation and intensive development of rare earth is conducive to increasing scientific research investment, integrating innovative resources, improving the R & D and application capacity of new rare earth processes, technologies and materials, and further unblocking the communication and connection between the upstream and downstream of the rare earth industry chain and different fields. It will better ensure the upgrading of traditional industries and the development of strategic emerging industries.

It is understood that after its establishment, China Rare Earth Group Co., Ltd. will focus on the scientific and technological R & D, exploration and development, separation and smelting, intensive processing, downstream application, complete sets of equipment, industrial incubation, technical consulting services, import and export and trade business of rare earth, and strive to build a first-class rare earth enterprise group.

The establishment of China Rare Earth Group is an inevitable requirement to follow the historical development law of rare earth industry, an urgent need for green development and transformation of rare earth industry, and an objective need for high-quality development of rare earth industry. The rare earth restructuring is conducive to promoting China's rare earth industry to accelerate the formation of a pattern of "One South and one North, South heavy and North Light", improving the market concentration of rare earth industry, and realizing the overall transformation and upgrading of rare earth industry. CCTV Finance said that after the establishment of China Rare Earth Group, the group operation and intensive development are conducive to the systematic and in-depth study of the basic characteristics and elemental characteristics of rare earth, increase scientific research investment, improve the added value of rare earth terminal products include Samarium Cobalt and Neodymium rare earth magnets and magnetic assemblies, and provide technical support for the high-quality development of rare earth industry. In addition, it is conducive to improve the R & D and application capacity of new rare earth processes, new technologies and new materials, undertake tackling common and difficult problems in the rare earth industry and carry out forward-looking research, and improve the resource transformation efficiency and development achievements in high-end application fields. It is conducive to solving the problems restricting the high-quality development of rare earth enterprises, such as the imbalance of rare earth industry chain structure, the serious lag in the development of rare earth deep processing, and the application and promotion of new technologies and new products.