On December 23rd, according to media reports, China Rare Earth Group was officially established, with Ao Hong, a director and deputy party secretary of China Aluminum Group, serving as the legal representative and chairman of China Rare Earth Group. Liu Leiyun, the chairman and director of Minmetals Rare Earth, was appointed as the general manager of China Rare Earth Group. On December 6th, there were media reports that China Rare Earth Group was about to be established and would be quickly listed by the end of the year. Wikipedia Electronic Engineering also reviewed the history of China Rare Earth in recent years.
It is reported that China Rare Earth Group is a large-scale rare earth technology research and development enterprise group established by China Aluminum Group Co., Ltd., China Minmetals Group Co., Ltd., and Ganzhou Rare Earth Group Co., Ltd. in accordance with the principles of marketization and rule of law, in order to achieve complementary rare earth resource advantages, coordinated development of the rare earth industry, and the introduction of China Steel Research Technology Group Co., Ltd. and Youyan Technology Group Co., Ltd.
After its establishment, China Rare Earth Group belongs to a diversified central enterprise under the direct supervision of the State owned Assets Supervision and Administration Commission of the State Council. The equity structure is as follows: the State owned Assets Supervision and Administration Commission of the State Council holds 31.21%, China Aluminum Group Co., Ltd., China Minmetals Co., Ltd., and Ganzhou Rare Earth Group Co., Ltd. hold 20.33% respectively, and China Steel Research Technology Group Co., Ltd. and Youyan Technology Group Co., Ltd. hold 3.90% respectively. The establishment of China Rare Earth Group is a beneficial exploration and attempt by China Aluminum Group, China Minmetals Group, and Ganzhou Rare Earth Group based on their own development needs and adapting to the development laws of the industry.
Introduction to participating in the establishment of the company
China Aluminum Corporation Limited
Aluminum Corporation of China Limited was established on February 23, 2001, and was restructured and renamed from Aluminum Corporation of China to its current name on December 16, 2017. China Aluminum Group is an important 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 technology services. It is currently the world’s largest supplier of alumina and electrolytic aluminum, with the comprehensive strength of the copper industry ranking first in the country. It is one of the large rare earth enterprise groups registered by relevant national departments and the largest lead zinc enterprise in Asia. The group currently has 68 backbone enterprises, with businesses in over 20 countries and regions around the world. The total assets of the group are 640 billion yuan, and the operating revenue in 2018 exceeded 300 billion yuan. Since 2008, it has continuously ranked among the top 500 companies in the world. The six holding subsidiaries of the group have achieved domestic and foreign listings.
China Minmetals Group Co., Ltd
China Minmetals Group Co., Ltd., formed through the strategic restructuring of two former Fortune Global 500 enterprises, China Minmetals and MCC Group, is an important state-owned backbone enterprise with metal minerals as its core business and directly managed by the central government. It is a pilot enterprise of state-owned capital investment companies, with a revenue of 703.9 billion yuan in 2020 and ranked 65th among the Fortune Global 500 in 2021. Its headquarters are located in Beijing. It has 9 listed companies and is the first to establish a comprehensive industrial chain layout in the global metal and mineral industry, covering resource acquisition, exploration, design, construction, operation, circulation, and deep processing. It has formed the “four pillars” of metal minerals, metallurgical construction, trade logistics, and financial real estate, with mineral development, metal materials, new energy materials, metallurgical engineering, basic construction, trade logistics, and financial services Real estate development is a “four beams and eight pillars” business system composed of “eight pillars”.
In the field of metal minerals, the company has abundant reserves of metal mineral resources, with a total of 42 domestic and foreign mines, including 15 overseas mines, covering Asia, Oceania, South America, and Africa. Zinc production ranks among the top ten in the world, and tungsten, antimony, and bismuth resources rank among the top in the world.
Ganzhou Rare Earth Group Co., Ltd
Ganzhou Rare Earth Group Co., Ltd. was established in November 2010, with a registered capital of 2.073 billion yuan and total assets of over 10 billion yuan. It is one of the large state-owned enterprise groups directly under the Ganzhou Municipal Government. The company has more than 70 wholly-owned, holding, and participating companies, including China Southern Rare Earth Group, Ganzhou Industrial Investment Group, and Ganzhou Rare Earth Mining Co., Ltd.