China to merge rare earth giants, expected to produce 45,000 tons per year

Several of China's rare earth producers are planning to join together, creating the country's second-largest rare earths producer by capacity.

A subsidiary of China Minmetals Corporation, China Minmetals Rare Earths, has told the Shenzhen Stock Exchange that its parent company is launching a cooperative arrangement with another state-owned firm, Chinalco Rare Earth & Metals, as well as with the government of Ganzhou City, Jiangxi Province, a major center of rare earths production. Details of the restructuring are currently under discussion, it said.

Analysts say the combination will be able to produce around 45,000 tonnes per year of rare earth oxides, widely used in electronic device manufacture.

China Minmetals Rare Earths has seen its share price climb more than 230 percent year-to-date as rare earth prices have risen on fears of tight supply.

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