On December 23, China Rare Earth Group Co., Ltd. was formally established.
China Rare Earth Group is formed by China Aluminum (601600) Group Co., Ltd., China Minmetals Group Co., Ltd., and Ganzhou Rare Earth Group Co., Ltd. In order to realize the complementary advantages of rare earth resources and the development of the rare earth industry, the China Iron and Steel Research Institute Technology Group Co., Ltd. A large-scale rare earth enterprise group established in accordance with the principles of marketization and rule of law, including two rare earth technology research and development enterprises including the Science and Technology Group Co., Ltd.
After the formation, China Rare Earth Group is a central enterprise with diversified equity under the direct supervision of the State-owned Assets Supervision and Administration Commission of the State Council. The shareholding structure is: 31.21% held by the State-owned Assets Supervision and Administration Commission of the State Council; China Aluminum Corporation, China Minmetals Corporation and Ganzhou Rare Earth Group Co., Ltd. Each holds 20.33%; China Iron and Steel Research Technology Group Co., Ltd. and Youyan Technology Group Co., Ltd. each hold 3.90%. The establishment of China Rare Earth Group is a beneficial exploration and attempt by Chinalco, China Minmetals and Ganzhou Rare Earth Group based on their own development needs and adapting to the law of industry development.
The formation of China Rare Earth Group is an inevitable requirement to follow the law of the historical development of the rare earth industry. Throughout the development history of the rare earth industry, the rare earth industry will embark on the path of mergers and reorganizations and intensive development in the early stage of development that has experienced barbaric growth. Since 2003, my country’s rare earth industry has undergone three formal integrations. Although the disorderly development of rare earth companies in “small, scattered, chaotic, and weak” has improved, they have not yet been able to meet the requirements of high-quality development. Chinese rare earth companies will also follow the law of market development, move towards the intensive development stage of mergers and reorganizations, eliminate backwardness, and realize the optimal allocation of resources in the market.
The establishment of China Rare Earth Group is an urgent need for the green development and transformation of the rare earth industry. China is a major supplier of rare earth raw materials, and the rapid development of rare earths has caused many historical problems. Green and low-carbon is the future development trend. The “dual carbon” goal is China’s solemn commitment to the world. Realizing the “dual carbon” target requirements and accelerating the promotion of green development and environmental protection of ion-type rare earth mines in the south have become the industry’s sustained and healthy development. key. The conglomerate of rare earth enterprises can better integrate resources, unify coordination, scientific planning, unified implementation, and synergy of technological innovation, and provide a solid foundation for the gradual resolution of related problems.
The establishment of China Rare Earth Group is an objective need for the high-quality development of the rare earth industry. Under the new development pattern, the group management and intensive development of rare earth enterprises are conducive to systematic in-depth study of the basic characteristics and element characteristics of rare earths, increase scientific research investment, increase the added value of rare earth terminal products, and provide technical support for the high-quality development of the rare earth industry ; Conducive to improving the R&D and application capabilities of new rare earth processes, new technologies, and new materials, undertaking to tackle common and difficult issues in the rare earth industry and conducting forward-looking research, improving resource conversion efficiency and development results in high-end applications; conducive to cracking the structural imbalance of the rare earth industry chain , The development of rare earth deep processing is seriously lagging behind, and the application and promotion of new technologies and new products restrict the high-quality development of rare earth enterprises. Further smooth the communication and connection between the upstream and downstream of the rare earth industry chain and between different fields, integrate innovative resources, form a joint force for innovation, and accelerate the advancement of scientific and technological achievements. Transform applications, promote high-end applications to a new level, and better guarantee the upgrading of traditional industries and the development of strategic emerging industries.China Rare Earth Group will focus on rare earth technology research and development, exploration and development, separation and smelting, deep processing, downstream applications, complete sets of equipment, industrial incubation, technical consulting services, import and export and trade businesses, and strive to build a world-class rare earth enterprise group with global competitiveness .
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