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Aluminum Corp of China (SHA:601600), the country’s top aluminium producer which is expanding to other metals, will take a majority stake in Jiangxi Rare Earth and Rare Metals Tungsten Group.
Aluminum Corp of China (SHA:601600), the country’s top aluminium producer which is expanding to other metals, will take a majority stake in Jiangxi Rare Earth and Rare Metals Tungsten Group.
The press release is quoted as saying:
In March this year, Chinalco said it would support the development of Jiangxi Rare Earth, owned by the provincial government. [ID:nSGE62N08L] The Jiangxi firm is one of China’s major tungsten producers and holds rare earth resource in the southern province of Jiangxi. Chinalco recently set up a subsidiary China Rare Metals Rare Earth Company Ltd and aims to be a leader in that sector.