A major rare earth production corporation has been formed in east China’s Jiangxi Province as part of efforts to boost the industry’s sustainable development.
The state-owned Ganzhou Rare Earth Group Co, Ltd, based in the city of Ganzhou, was founded through the merging of its key subsidiary Ganzhou Rare Earth Mineral Industry Co, Ltd and some local rare earth companies, including Longnan Wanbao Rare Earth Co.
Thirty-six percent of China’s middle and heavy rare earth reserves are in Ganzhou, which has experienced overexploitation since the end of the 1970s.
“From now on, Ganzhou will step up efforts to facilitate the merging and restructuring of the rare earth industry,” said Liu Jianping, vice mayor of Ganzhou.
As the only prospector in Ganzhou,the group will be involved in rare earth mining, smelting, processing and trade.
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