Business Brief (March 25): China Discovers World’s Second-Largest Light Rare Earth Mine

Published: Mar. 25, 2026 3:12 p.m. GMT+8

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China discovers world’s second-largest light rare earth mine

China has discovered the world’s second-largest light rare earth mine in the Maoniuping mining area in Mianning county, Sichuan province. The discovery adds 9.7 million tons of resources, a more than 300% increase in reserves. The site also yielded significant associated minerals, adding 27.1 million tons of fluorite and 37.2 million tons of barite. Rare earth oxides are widely used in critical sectors spanning magnetic and fluorescent materials.

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China discovered the world’s second-largest light rare earth mine, increasing reserves by over 300% and adding large fluorite and barite resources.
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Industrial and Commercial Bank of China: I am sorry, but the provided article content does not mention the Industrial and Commercial Bank of China. Therefore, I cannot furnish information about it based on the given text.

Goldman Sachs Group Inc.: Goldman Sachs Group Inc. maintains an "overweight" rating on Chinese equities. They believe that A-shares offer a higher Sharpe ratio in the short term, indicating a favorable risk-adjusted return potential.

Alibaba Group Holding Ltd.: Alibaba Group Holding Ltd.'s DAMO Academy developed and released the Xuantie C950, a new generation flagship processor. The company was mentioned in the "Companies" section of the "NEWS SUMMARY."

Country Garden Holdings Co. Ltd.: Country Garden Holdings Co. Ltd. anticipates returning to profitability in 2025. This turnaround is expected to be largely due to revenue generated from its debt restructuring efforts.

Xiaomi Corp.: Xiaomi Corp. reported a 23.7% year-on-year drop in its fourth-quarter adjusted net profit, reaching 6.3 billion yuan. The company aims to deliver 550,000 electric vehicles (EVs) by 2026 and projects its cumulative research and development spending to surpass 200 billion yuan over the next five years.

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