portal
  Home About us Reports Charts News Custom Company Scan  
Report Charts News
*
Title Content
Economy&Goods
  Economy
  ConsumerGoods
  Food&Beverage
  Agriculture
Life Sciences
  Biotechnology
  Medical
  Pharmaceutical
Manufacturing
  Automotive
  Chemical
  Energy
  Machinery
  Material
  Metals & Minerals
Public Sector
  Environment
  Finance Service
  Infrastructure
  Logistics
  Real Estate
  Retailing
  Tourism
  Training
Technology And Media
  Electronics
  Internet
  Hardware
  Media
  Software
  Telecommunications

Tel: 0086-10-82600828
Fax: 0086-10-82601570
Email:


 Government Approves Rare Earth Conglomerates
 
CreateTime:2014-08-08     Source:China Daily Editor:liaoyan
Text Size:       
 

The government has approved two major rare earth producers to become conglomerates by the end of this year in order to further consolidate the rare resources, combat smuggling and alleviate overcapacity in production.

Xiamen Tungsten Co Ltd and Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co have been approved by the Ministry of Industry and Information Technology to form the two rare earth groups.
Xiamen Tungsten will integrate rare earth mining, separating and manufacturing within Fujian province in the south, excluding what is owned by China Minmetals Corp by the end of 2014.

Baotou Steel will set up China North Rare Earth High Tech Co Ltd, consolidating rare earth mining, separating and processing within the Inner Mongolia autonomous region and Gansu Rare Earth Group Co Ltd in the north.

These two companies are among six groups encouraged to consolidate earlier this year. The other four groups are: China Minmetals Corp, Aluminum Corp of China, Ganzhou Rare Earth Group Co Ltd and China National Nonferrous Metals Industry Guangzhou Corp.

The founding of big groups is only the first step toward consolidation of the rare earth industry in China. Various companies face challenges in breaking regional protectionism and speeding up clearance of illegal practices and mining operations.

Rare earths are a group of minerals that have many uses in high-technology sectors such as defense and renewable energy. China supplies 90 percent of the global demand.

Du Shuaibing, an analyst at natural resources consultancy Baichuan Information, said "the move toward conglomerates signals a positive trend in the industry, as smaller enterprises have welcomed consolidation into major players to have more access to export quotas or production permits".

The result of China's appeal to the World Trade Organization over its March ruling that China had acted inconsistently with regard to export measures imposed on rare earths will be announced on Thursday.

Industry experts consider it likely that China will lose its appeal but also expect China to raise its export quota and lower tariffs by 2015.

The Baotou China Rare Earth Industry Forum is due to run from Thursday through Saturday, in Baotou, the Inner Mongolia autonomous region.


Related Reports
Global and China Vanadium Industry Report, 2018-2023
Global and China Cobalt Industry Report, 2018-2023
Global and China Nickel Industry Report, 2017-2020
Global and China Cobalt Industry Report, 2017-2021
China Silicon Carbide Industry Report, 2016-2020
2005-2021 www.researchinchina.com All Rights Reserved 京ICP备05069564号-1