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China Rare Earth Group was established
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China Rare Earth Group was established

Author:Site Editor     Publish Time: 2021-12-27      Origin:Site

New central enterprise, China Rare Earth Group was established.


As CCTV Financial reported, China Rare Earth Group was officially established on December 23.


China Rare Earth Group Co., Ltd, a state-owned enterprise, was established Thursday in east China's Jiangxi Province, in a move to enhance coordinated development of the rare-earth industry. The group, based in the city of Ganzhou, was jointly founded by three companies -- Aluminum Corporation of China, China Minmetals Corporation, Ganzhou Rare Earth Group Co., Ltd -- and two research firms -- China Iron and Steel Research Institute Group and Grinm Group Corporation Ltd. The newly-launched company will operate under the direct supervision of the State-owned Assets Supervision and Administration Commission of the State Council.


The established China Rare Earth Group is an equity diversified central enterprise under the direct supervision of the SASAC of the State Council. The ownership structure is: the SASAC of the State Council holds 31.21%; Aluminum Corporation of China, China Minmetals Corporation, Ganzhou Rare Earth Group CO., LTD hold 20.33% respectively; China Iron&Steel Research Institute Group and Grinm Group Corporation Limited hold 3.90% respectively. The establishment of China Rare Earth Group is a beneficial exploration and attempt by Aluminum Corporation of China, China Minmetals Corporation, Ganzhou Rare Earth Group CO., LTD based on their own development needs and adapting to the development law of the industry.


The establishment of China Rare Earth Group is an inevitable requirement to follow the historical development law of rare earth industry. Tracing back to the development process of rare earth industry, in the early stage of development after savage growth, rare earth industry will embark on the way of merger and reorganization, intensive development. Since 2003, Chinese rare earth industry has experienced three formal integration. Although the disorderly development situation of “small, scattered, chaotic and weak” of rare earth enterprises has improved, it has not been able to meet the requirements of high-quality development. Chinese rare earth enterprises will must follow the law of market development, move towards the intensive development stage of merger and reorganization, then eliminate backward 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 transformation of rare earth industry. China is a big supplier of rare earth raw materials. The rapid development of rare earth has caused many historical problems. Green and low carbon is the future development trend. The “double carbon” goal is China's solemn commitment to the world. Realizing the requirements of it and accelerating the green development and environmental protection of Southern ionic rare earth mines have become the key to the sustainable and healthy development of the industry. Rare earth enterprise group can do better resources integration, overall coordination, scientific plan, unified implementation, scientific and technological innovation and coordination, and provide a strong foundation for promoting the gradual solution of relevant problems.


The establishment of China Rare Earth Group is the objective need for the high-quality development of rare earth industry. Under the new development setup, the enterprise group operation and intensive development of rare earth is conducive to the systematic and in-depth study of the basic characteristics and elemental characteristics of rare earth, increasing scientific research investment, improving the added value of rare earth terminal products, and providing technical support for the high-quality development of rare earth industry. It is conducive to improving the R&D application capacity of rare earth new handcraft, new technology and new materials, undertaking tackling common difficult problems in the rare earth industry and carrying out forward-looking research, improving the resource transformation efficiency and development achievements in high-end application fields; It is conducive to solving the problems restricting the high-quality development of rare earth enterprises, such as the imbalance of rare earth industry chain structure, the serious lag in the development of rare earth deep processing, the application and promotion of new technologies and new products, which further unblock the communication and connection between the upstream and downstream of rare earth industry chain and different fields, integrate innovative resources, form innovative forces, accelerate the transformation and application of scientific and technological achievements, promote high-end applications to a new level, and better ensure the quality upgrading of traditional industries and the development of strategic emerging industries.


The group will focus on businesses such as technical research and development, exploration, processing as well as downstream application. The collectivized management and intensive development of rare-earth enterprises is conducive to increasing investment in scientific research, integrating innovative resources, improving capabilities of developing and applying new techniques, new materials for rare-earth, in order to smooth link-up between upstream and downstream of rare-earth industrial chain, and among different fields, and facilitate the upgrade of traditional industries and development of strategic emerging industries.


Related reading material

Aluminum Corporation of China:

As the official website claims, Aluminum Corporation of China was established on February 23, 2001. Aluminum Corporation of China is a vital state-owned backbone enterprise directly managed by the central government, mainly engaged in mineral resource development, non-ferrous metal smelting and processing, related trade and engineering technical services. At present, it is the largest supplier of alumina and electrolytic aluminum in the world. Its comprehensive strength of copper industry ranks first in China. It is one of the large rare earth enterprise groups recorded by relevant national departments and the largest lead-zinc enterprise in Asia. The group has 68 backbone enterprises, with businesses in more than 20 countries and regions around the world. The group’s total assets reach 640 billion yuan, with an operating revenue of more than 300 billion yuan in 2018. It has continuously ranked among the world’s top 500 enterprises since 2008. Six holding subsidiaries of the group have gone public at home and abroad.


China Minmetals Corporation:

As the official website claims, China Minmetals Corporation is formed by the strategic reorganization of two former world top 500 enterprises, China Minmetals and MCC. This is an important state-owned backbone enterprise with metal minerals as the core business and directly managed by the central government. It is a pilot enterprise of state-owned capital investment company. In 2020, its operating revenue was 703.9 billion yuan. It ranked 65th among the world top 500 headquartered in Beijing in 2021. By the end of 2020, it has 9 listed companies and the total assets of the company reached 983 billion yuan.


Ganzhou Rare Earth Group CO., LTD:

As the official website claims, Ganzhou Rare Earth Group CO., LTD was established in November 2010 with a registered capital of 2.073 billion yuan. It has a total asset of more than 10 billion yuan and is one of the large state-owned enterprise groups directly under Ganzhou municipal government. The company owns more than 70 wholly-owned, holding and joint-stock companies, such as China Southern Rare Earth Group, Ganzhou Industrial Investment Group and Ganzhou Rare Earth Mining Co., Ltd. The company’s business covers rare earth, rare metals and financial assets. The part of rare earth, with China Southern rare earth group as the core, is mainly engaged in rare earth raw ore mining, rare earth smelting and separation, rare earth comprehensive recycling, rare earth intensive processing and application, rare earth product trade, rare earth application R & D and technical services; The part of rare metal is mainly engaged in the development and utilization of tungsten, fluorite, lead-zinc and other mineral resources; The part of financial assets is mainly engaged in the investment and management of rare earth, tungsten and other rare metals, fund investment and management, operation and management of rare metal trading platform, etc.


As Xinhua News claims, rare earth is a non-renewable resource, known as the “vitamin” of modern industry. Rare earth elements are widely used in modern industrial fields such as metallurgy, petrochemical, optics, laser, hydrogen storage, display panel, magnetic materials and so on. Especially with the continuous progress of the world scientific technological revolution and industrial reform, the application scope of rare earth elements is further expanded, and its strategic value and significance will become more prominent.


On October 21 this year, at the conference on the economic operation of central enterprises in the first three quarters of 2021, Peng Huagang, member and secretary-general of State-owned party Committee, introduced that, with the goal of strengthening and refining business, taking advantageous enterprises as the main body and taking the industrial system reform in relevant fields as an opportunity, by the way of free transfer, paid acquisition, joint-stock cooperation, etc, State-owned party Committee will vigorously promote the professional integration of rare earth, logistics and other fields, effectively enhance the competitiveness of enterprises through the optimal allocation of resources, and build a world-class enterprise with global competitiveness.


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