Minmetals Nonferrous Metals Co., Ltd. (hereinafter referred to as “Minmetals Nonferrous Metalsâ€), which is owned by Minmetals Group, has officially signed a framework agreement on the development of rare earth industry in Beijing with the Ganzhou City Government of Jiangxi Province and Yanzhou Rare Earth Mining Co., Ltd. last weekend. Will jointly create the world's largest rare earth enterprise group.
"First Financial Daily" learned from China Minmetals Corporation that according to the contents of the framework agreement, this newly established company is named "Minmetals Yanzhou Rare Earth Co., Ltd." and it is jointly formed by Minmetals Nonferrous Metals Co., Ltd. and Yixian Hongjin Rare Earth Co., Ltd. Dingnan Dahua New Material Resources Co., Ltd. was founded. Among them, Minmetals Nonferrous Metals has invested in cash, while the other two companies have invested in existing assets.
Gong Jijun, deputy general manager of the Minmetals Non-ferrous Rare Earth Business Department, told the "First Financial Daily" that the three shareholders plans to invest 2 billion yuan in rare earth functional materials and applied products over the next five years, reaching an annual sales of 10 billion yuan. Yuan scale. By then, this will become the world's largest rare earth enterprise group integrating mining, separation, processing and application.
Rare earths belong to the state's protective and open mining species. China is the country with the richest reserves of rare earth resources in the world. The rare earth resources in Jiangxi Province account for about 40% of the country's total, and it has become China's largest rare earth production base. According to Zhangzhou City Mayor Wang Ping, this year, Luzhou City further integrated rare earth resources and encouraged powerful companies to participate in the integration of rare earth resources and the development of rare earth deep processing.
“This transformation is based on mineral rights, with enterprises as the main body, combining resources and deep processing of products, encouraging and guiding the merger and acquisition of upstream and downstream industries, and forming a leading and driven industry with strong industrial correlation, low supporting costs, and obvious competitive advantages. Clusters." Wang Ping said. He believes that Minmetals' nonferrous investment action is in line with the development of rare earth resources in Chuzhou City.
It is understood that the two companies with the development of Minmetals Nonferrous Metal Co., Ltd. are both privately-owned enterprises, and are currently the rare earth-separating companies ranked in China, with strong technical advantages. Among them, Yixian Hongjin Rare Earth Co., Ltd. is one of the largest and most complete enterprises for rare earth separation and deep processing in China and has a registered trademark of “Red Xiyuanâ€. Another Dingnan Dahua New Material Resources Co., Ltd. also earned more than 2 100 million yuan. Gong Jijun told the reporter that Minmetals Nonferrous Metals will be relatively controlling and will become the largest shareholder of the new company.
At present, as the two companies are conducting asset assessments, China Minmetals Non-ferrous Metals is not yet able to determine the registered capital of the new company and its equity ratio. Gong Jijun revealed that the assessment will end in August. For the future development of this rare earth enterprise group, in addition to being the largest in the world, Minmetals is also interested in listing on the domestic capital market.
Li Yun, chairman of Yanzhou Rare Earth Minerals Co., Ltd., told this reporter that in the framework agreement signed by the Ganzhou municipal government and its subsidiary, Ganzhou Rare Earth Mining Co., Ltd. and Minmetals Nonferrous Metals, the Ganzhou municipal government promised to allocate some mining rights to Minmetals Non-ferrous Mining. . According to Li Yun, the mining rights are strictly managed by the municipal government. In order to make the rare earth industry bigger and stronger, the Ganzhou municipal government will consider the allocation of some mining rights to superior enterprises.
According to the framework agreement, this part of the mining rights will be configured in the form of auctions, provided that the development of the enterprise must enter the stage where the applied products are put into production; at the same time, this is also an initiative to support the listing of companies. Li Yun said that since the two private companies that have cooperated with Minmetals Non-ferrous Metals Co., Ltd. have already had a good foundation and scale, optimistically, it will not take a long time to achieve the allocation of mining rights and it will be available within two years.
"First Financial Daily" learned from China Minmetals Corporation that according to the contents of the framework agreement, this newly established company is named "Minmetals Yanzhou Rare Earth Co., Ltd." and it is jointly formed by Minmetals Nonferrous Metals Co., Ltd. and Yixian Hongjin Rare Earth Co., Ltd. Dingnan Dahua New Material Resources Co., Ltd. was founded. Among them, Minmetals Nonferrous Metals has invested in cash, while the other two companies have invested in existing assets.
Gong Jijun, deputy general manager of the Minmetals Non-ferrous Rare Earth Business Department, told the "First Financial Daily" that the three shareholders plans to invest 2 billion yuan in rare earth functional materials and applied products over the next five years, reaching an annual sales of 10 billion yuan. Yuan scale. By then, this will become the world's largest rare earth enterprise group integrating mining, separation, processing and application.
Rare earths belong to the state's protective and open mining species. China is the country with the richest reserves of rare earth resources in the world. The rare earth resources in Jiangxi Province account for about 40% of the country's total, and it has become China's largest rare earth production base. According to Zhangzhou City Mayor Wang Ping, this year, Luzhou City further integrated rare earth resources and encouraged powerful companies to participate in the integration of rare earth resources and the development of rare earth deep processing.
“This transformation is based on mineral rights, with enterprises as the main body, combining resources and deep processing of products, encouraging and guiding the merger and acquisition of upstream and downstream industries, and forming a leading and driven industry with strong industrial correlation, low supporting costs, and obvious competitive advantages. Clusters." Wang Ping said. He believes that Minmetals' nonferrous investment action is in line with the development of rare earth resources in Chuzhou City.
It is understood that the two companies with the development of Minmetals Nonferrous Metal Co., Ltd. are both privately-owned enterprises, and are currently the rare earth-separating companies ranked in China, with strong technical advantages. Among them, Yixian Hongjin Rare Earth Co., Ltd. is one of the largest and most complete enterprises for rare earth separation and deep processing in China and has a registered trademark of “Red Xiyuanâ€. Another Dingnan Dahua New Material Resources Co., Ltd. also earned more than 2 100 million yuan. Gong Jijun told the reporter that Minmetals Nonferrous Metals will be relatively controlling and will become the largest shareholder of the new company.
At present, as the two companies are conducting asset assessments, China Minmetals Non-ferrous Metals is not yet able to determine the registered capital of the new company and its equity ratio. Gong Jijun revealed that the assessment will end in August. For the future development of this rare earth enterprise group, in addition to being the largest in the world, Minmetals is also interested in listing on the domestic capital market.
Li Yun, chairman of Yanzhou Rare Earth Minerals Co., Ltd., told this reporter that in the framework agreement signed by the Ganzhou municipal government and its subsidiary, Ganzhou Rare Earth Mining Co., Ltd. and Minmetals Nonferrous Metals, the Ganzhou municipal government promised to allocate some mining rights to Minmetals Non-ferrous Mining. . According to Li Yun, the mining rights are strictly managed by the municipal government. In order to make the rare earth industry bigger and stronger, the Ganzhou municipal government will consider the allocation of some mining rights to superior enterprises.
According to the framework agreement, this part of the mining rights will be configured in the form of auctions, provided that the development of the enterprise must enter the stage where the applied products are put into production; at the same time, this is also an initiative to support the listing of companies. Li Yun said that since the two private companies that have cooperated with Minmetals Non-ferrous Metals Co., Ltd. have already had a good foundation and scale, optimistically, it will not take a long time to achieve the allocation of mining rights and it will be available within two years.
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