Baotou Steel Rare Earth to Merge with Five Smaller Firms to Establish China North Rare Earth Group

BEIJING (SMM): China’s leading rare earth producer Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Co. (BREG) will merge with five smaller rare earth firms to establish the “China North Rare Earth Group Co.”,  the company told Shanghai Stock Exchange last Friday.

BREG has secured approval to acquire stake in five smaller are companies – Baotou Feida Rare Earth Co., Baotou Jinmeng Rare Earth Co., Baotou Hongtianyu Rare Earth Magnets Co., Wuyuan Runze Rare Earth Co., and Xinyuan Rare Earth Hi-Tech & New Material Co.

According to the statement filed by BREG, all these five companies are engaged in rare earth separation businesses, with their combined rare earth processing capacity at 73,500 tpy.
 

Courtesy: www.metal.com