China Rare Metals and Rare Earth Co. Ltd., a unit of Aluminum Corp. of China Ltd. (Chalco) (02600.HK, 601600.CN), on Wednesday held a launch ceremony for a rare-earth joint venture in Dechang in Sichuan province, China Securities Journal reported Friday. China Rare Metals holds 33.5 percent stake in the venture while Leshan Shenghe Rare Earth Technology Co. Ltd. owns 30.5 percent, it said. The remaining stake is shared by several other parties. The move came a day after Jiangxi Copper Co. (00358.HK, 600362.CN) set up a rare-earth joint venture in the province, which has a rare-earth resource belt that extends up to 300 kilometers, the report noted.
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