China approves rare earth industry consolidation

Applications of REE

BEIJING May 14 (Reuters) – China’s natural resource ministry said on Thursday that plans consolidating the rare industry into six firms have been approved, according to state media.

The plans involve miners and processors in the industry consolidating under six firms — China Aluminum Corporation , Xiamen Tungsten Co Ltd, Inner Mongolia BaoTou Steel Union Co Ltd, China Minmetals Corporation, Ganzhou Rare Earth Group Co Ltd and Guangdong Rare Earth Industrial Group Co Ltd, Xinhua news agency reported.

Read more at: http://af.reuters.com/article/metalsNews/idAFL3N0Y55XX20150514

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