SMM: on the evening of November 20, Hongda Societe Generale announced that in order to speed up the application and development of rare earth new materials such as rare earth hydrogen storage materials and rare earth auxiliaries, the company's holding subsidiary, Baotou Xindamao rare Earth Co., Ltd. ("Xindamao rare Earth") and China Northern rare Earth (Group) High Technology Co., Ltd. ("Northern rare Earth") signed a "cooperation agreement". The two sides cooperated on the provision of storage services for rare earth solid waste produced in the process of production and operation of rare earths in northern China, and strengthened cooperation in rare earth smelting, rare earth processing and application development and promotion.
It is understood that Hongda Xingye holds 80% of Xindamao rare earth, and northern rare earth holds 20% of Xindamao rare earth. Xindamao rare earth is a large rare earth production enterprise integrating rare earth mineral processing, smelting and separation and deep processing. It is one of the earliest enterprises engaged in rare earth processing and separation in China, with rare earth solid waste storage qualification and legal rare earth solid waste treatment site. The northern rare earth is the largest rare earth production, scientific research and trade base in China, and it is the leading enterprise in China's rare earth industry. It is mainly engaged in rare earth concentrate, rare earth deep processing products, rare earth new material production and sales, rare earth high-tech application products development, production and sales business.
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