Minmetals rare earths: Chinalco, China Minmetals, Ganzhou Municipal Government, etc., carry out strategic restructuring of rare earth assets.

Published: Dec 22, 2021 19:10

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[Minmetals rare earths: strategic restructuring of rare earth assets by Chinalco, China Minmetals, Ganzhou Municipal Government, etc.] Minmetals rare earths issued a notice saying that after being studied by the State-owned assets Supervision and Administration Commission of the State Council and submitted to the State Council for approval, it is agreed that Chinalco, China Minmetals and the people's Government of Ganzhou City will carry out strategic restructuring of related rare earth assets.

Minmetals rare Earth issued a notice saying that on December 22, 2021, Minmetals rare Earth Co., Ltd. received notice from China Minmetals Group Co., Ltd., which was studied by the State-owned assets Supervision and Administration Commission of the State Council and submitted to the State Council for approval. It is agreed that Chinalco, China Minmetals and the people's Government of Ganzhou City, etc., will carry out strategic restructuring of relevant rare earth assets and establish a new company controlled by the State Council SASAC. The shares held by Chinalco Group, China rare rare Earth Co., Ltd., Minmetals rare Earth Co., Ltd., Minmetals rare Earth Group Co., Ltd., And the shares held by Ganzhou rare Earth Group Co., Ltd. and its subordinate enterprises, such as South China rare Earth Group Co., Ltd., Jiangxi Ganzhou rare Earth Exchange Co., Ltd., and Ganzhou Zhonglan rare Earth New Materials Technology Co., Ltd., are transferred into the new company as a whole. After this reorganization, the controlling shareholder of the company is still Minmetals rare Earth Group Co., Ltd., and the actual controller will be changed from China Minmetals to a new company.

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