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.