China Minmetals Rare Earth to Buy 75% Stake in Guangzhou Jianfeng Rare Earth

BEIJING (Scrap Monster): China Minmetals Rare Earth Co. has secured approval to buy 75% stake in Guangzhou Jianfeng Minmetals Rare Earth Co., it told Shenzhen Stock Exchange today.

The company received the approval of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) to acquire 75% equities in Guangzhou Jianfeng Minmetals Rare Earth which is held by China Minmetals Rare Earth Group with 386 million yuan ($62.74 million).

Courtesy: Metal.com