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Home / Metal News / Shenghe Resources Plan to Buy Stake in Rare Earth Processor Xijun New Material with $17.5 Mln

Shenghe Resources Plan to Buy Stake in Rare Earth Processor Xijun New Material with $17.5 Mln

iconDec 26, 2014 10:19
Source:SMM
Chinese rare earth producer Shenghe Resources Holding Co. plans to buy 35% of Xi’an Xijun New Material Co. for an estimated 107.7 million yuan ($17.5 million).

SHANGHAI, Dec. 26 (SMM) – Chinese rare earth producer Shenghe Resources Holding Co. plans to buy 35% stake in Xi’an Xijun New Material Co. for an estimated 107.7 million yuan ($17.5 million), to improve its rare earth separation and processing capacity, according to its statement on Shanghai Stock Exchange.

i’an Xijun New Material is capable of separating 15 types of rare earth elements, with REO capacity of 5,000 tpy. The company obtained 1,520 tonnes of rare earth production quota in 2014.


 
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Shenghe Resources Holding Co.

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