Beijing-based
China Minmetals Co. has acquired an additional 35 percent stake in its Jiangxi Province-based subsidiary
China Minmetals Rare Earth Co., as reported by
China Business News.
China Minmetals Rare Earth Co. is the core rare earth production platform of
China Minmetals, with an annual rare earth separation capacity of 8,600 mt. On July 25, 2008,
China Minmetals united two private enterprises in Jiangxi, namely, Dinnan Dahua Advanced Material Resources and Ganzhou Hongjin Rare Earth, establishing the joint venture
China Minmetals Rare Earth Co., with
China Minmetals holding a 40 percent stake, while the two private sector companies each held a 30 percent stake.
With the other two companies each selling a 17.5 percent stake in
China Minmetals Rare Earth to
China Minmetals, the latter's stake has now increased to 75 percent.