China's rare earth "Big Mac" is about to be born

    On December 6, when the overall Hong Kong stock market weakened, China Rare Earth bucked the trend and rose sharply, exceeding 18% at one time, and still rose 16.88% as of the close. In the end what happened?

    China's rare earth "Big Mac" is about to be born

    On the news, according to the “Wall Street Journal” quoting people familiar with the matter, China will merge three state-owned rare earth mining companies to establish the world’s largest rare earth company to maintain its dominant position in the supply chain when relations with the United States are tense. .

    The above report stated that China has approved the establishment of the world's largest rare earth company. The newly established company will be named China Rare Earth Group (China Rare Earth Group), which is expected to be established in Jiangxi Province as soon as this month.

    In addition, the above-mentioned person familiar with the matter also revealed that the Chinese rare earth giant will be established by merging a number of state-owned enterprises. These combined rare earth companies include: China Minmetals Corp. and Aluminum Corp. of China Ltd. ), Ganzhou Rare Earth Group Co. (Ganzhou Rare Earth Group Co.) 3 rare earth companies.

    The news was confirmed by Ganzhou Rare Earth Group and China Minmetals Group.