Baotou Steel Rare Earth to change name into “Northern Rare Earth”
2014-12-17 08:58:55 [Print]
BEIJING (Asian Metal) 17 Dec 14 - It is said that Baotou Steel Rare Earth is going to change its name into “China Northern Rare Earth (Group) High-tech Co., Ltd” (“Northern Rare Earth” for short). “We need to apply to government firstly, and then we can change the name after getting approval,” claimed a source from Baotou Steel Rare Earth.
Baotou Steel Rare Earth also announced in late last week that the company is going to integrate Baotou Feida Rare Earth Co., Ltd, Baotou Jinmeng Rare Earth Co., Ltd, Baotou Hongtianyu Rare Earth Magnetic Co., Ltd, Wuyuan County Runze Rare Earth Co., Ltd and Baoutou Xinyuan Rare Earth New Material Co., Ltd and will own 34%, 34%, 34%, 34% and 5% shares of these five companies after finishing the integration.
Baotou Feida Rare Earth Co., Ltd owns the annual capacity of separating 5000 tons of rare earth. Baotou Jinmeng Rare Earth Co., Ltd owns the annual capacities of separating 10,000 tons of rare earth ores and producing 5,000 tons of rare earth oxides. Baotou Hongtianyu Rare Earth Magnetic Co., Ltd can deal with 30,000 tons rare earth ores. The annual capacity of Wuyuan County Runze Rare Earth Co., Ltd is to deal with 15,000 tons of rare earth ores. Baoutou Xinyuan Rare Earth New Material Co., Ltd’s annual capacity is to produce 8,500 tons of rare earth oxides.
Baotou Steel Rare Earth also announced in late last week that the company is going to integrate Baotou Feida Rare Earth Co., Ltd, Baotou Jinmeng Rare Earth Co., Ltd, Baotou Hongtianyu Rare Earth Magnetic Co., Ltd, Wuyuan County Runze Rare Earth Co., Ltd and Baoutou Xinyuan Rare Earth New Material Co., Ltd and will own 34%, 34%, 34%, 34% and 5% shares of these five companies after finishing the integration.
Baotou Feida Rare Earth Co., Ltd owns the annual capacity of separating 5000 tons of rare earth. Baotou Jinmeng Rare Earth Co., Ltd owns the annual capacities of separating 10,000 tons of rare earth ores and producing 5,000 tons of rare earth oxides. Baotou Hongtianyu Rare Earth Magnetic Co., Ltd can deal with 30,000 tons rare earth ores. The annual capacity of Wuyuan County Runze Rare Earth Co., Ltd is to deal with 15,000 tons of rare earth ores. Baoutou Xinyuan Rare Earth New Material Co., Ltd’s annual capacity is to produce 8,500 tons of rare earth oxides.
