21 August 2019

State Council gives nod to rare earth group, paper says

The State Council has approved a proposal from the Ministry of Industry and Information Technology to create an industry group of six rare earth companies to centralize control over the sector, the Securities Times reported Friday. The grouping is geared towards improving control of production quotas and production schemes. The six companies are Inner Mongolia Baotou Steel Rare-Earth (600111.CN), China Minmetals Non-ferrous Metals Co., Ltd., Aluminum Corporation of China Ltd. (Chalco) (02600.HK, 601600.CN), Ganzhou Rare Earth Group, Rising Nonferrous Metals Share Co Ltd. (600259.CN) and Xiamen Tungsten Co., Ltd. (600549.CN), the report said.

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