Ganzhou rare earth sign Jiangxi Jiangxi

Southern rare earth integration has taken a step forward. Yesterday, a reporter from Beijing Commercial Daily learned that Chenzhou Rare Earth Group (hereinafter referred to as “Rangzhou Rare Earth”) and Guangsheng Nonferrous have officially signed an equity transfer agreement. The agreement stipulates that Chenzhou Rare Earth will receive 36% of Jiangxi Guangyu Rare Earth Co., Ltd., which is held by Guangrong Nonferrous Metals. In addition, Chenzhou Rare Earths Subsidiary has already held a 15% equity interest in Jiangxi Guangsheng, and Ganzhou Rare Earth will hold Jiangxi Guangyu.

According to the announcement issued by Guangshen Nonferrous Metals, the company plans to transfer the 36% equity of Jiangxi Guangyu held by it to Chenzhou Rare Earth, and the transfer price is expected to be 3,672,200 yuan based on the assessed value of the assets. After the equity transfer is completed, Guangsheng Nonferrous holds 29% equity of Jiangxi Guangjing, Zhangzhou rare earth group holds 36% equity, Jiangxi Heli Investment Development Co., Ltd. holds 20% equity, and Chenzhou Rare Earth Minerals Co., Ltd. holds 15 % of equity.

According to the interpretation of Ruzhou Rare Earth, the cooperation with Guangsheng Nonferrous Metals is mainly to implement the national rare earth strategy. According to the “1+5” program for rare earth integration formulated by the Ministry of Industry and Information Technology, a rare earth group established by Baotou Steel Rare Earth will be formed in the future, together with two major central enterprises, Minmetals and Chinalco, and three local companies including Quzhou Rare Earth, Guangshan Nonferrous Metals and Xiamen Tungsten Industry. The composition of the Chinese rare earth forces in the territory.