China Minmetals to acquire 75% of Guangzhou Jianfeng heavy rare earths
Published: Tuesday, 09 September 2014
By signing an equity transfer agreement with the Guangzhou-based heavy rare earths producer, China Minmetals is following the consolidation policy in the Chinese rare earths industry supported by Beijing and will be able to recover some profits, after it posted losses in the first half of 2014.
China Minmetals Rare Earth Group Co. has signed an equity
transfer agreement with Guangzhou Jianfeng Minmetals Rare Earth
Co. to buy equities in the Guangzhou-based heavy
rare earths producer.
Following the transaction at a value of Chinese renminbi
(Rmb) 38.6bn ($6.2bn*), China Minmetals will become the largest
shareholder in Guangzhou...