BEIJING, Jun 15 -- China Minmetals Corp., the country's largest diversified metal trading company, is conducting a search for rare earths in Hubei and Guangdong provinces, an executive at the company said Wednesday.
Sustained demand for rare earths from emerging markets will support the global mining industry in the coming years, the company's president assistant Wang Jionghui said at a conference in Beijing.
China Minmetals doesn't own any rare-earth mining rights in China.
The company set up a joint venture, China Minmetals Rare Earth Co., with two local companies in October 2008. It also has a majority stake in Hunan Nonferrous Metals Holding Group Co., which will handle all the company's rare-earths business in the province.