China to Form Two Rare Earth Metals Conglomerates

(Beijing) – China's government has approved the creation of two regional monopolies in the rare earth metals industry. The mergers, to take place by the end of this year, are the latest example of state-driven consolidation in the industry.

Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. and Xiamen Tungsten Co. Ltd. announced on August 4 that they have been approved by the Ministry of Industry and Information Technology to lead the formation of the two groups.