Northern Rare Earth Group of Baotou Steel completes Gansu Rare Earth reorganization
2018-01-30 15:21:20 [Print]
On the afternoon of January 22, Northern Rare Earth Group of Baotou Steel and SASAC of Gansu Provincial Government signed a strategic reorganization agreement in Lanzhou. With the signing of a series of agreements including restructuring agreement and equity transfer agreement, North Rare Earth Group officially completed the reorganization of Gansu Rare Earth New Material LLC ("Gansu Rare Earth") and became its largest shareholder and controlling shareholder, realizing the unity of light rare earth industry in North China.
The reorganization agreement of North Rare Earth North Rare Earth and Gansu Rare Earth marks the implementation of China's requirements on promoting integration and reorganization of rare earth industry, and further establishing a more stable relationship in the capital level, which is bound to optimize the allocation of resources, increase industrial concentration and achieve a development of higher quality in China's rare earth industry with a positive and far-reaching impact. It is also a concrete measure to implement high-quality development requirements and promote supply-side structural reforms. It is a concrete response to the merger and integration of national rare earth industries and formation of an industrial structure led by large-scale enterprise groups. Based on the long-term development of rare earth new materials in Gansu Province, it is a realistic selection of solving the shortage of rare earth resource.
Northern Rare Earth Group owns the world's largest rare earth ore resources, while Gansu Rare Earth Group has leading-industry rare earth separation and smelting technology. Gansu provincial government agreed with the cooperation of Northern Rare Earth Group and Gansu Rare Earth Group, which will form strong alliances, filling in shortcomings of rare earth new materials resources in Gansu, promoting the high quality development of rare earth new materials in Gansu, effectively ensuring the interests of workers, providing the society with products of higher quality, realizing mutual benefit and win-win.
The reorganization agreement of North Rare Earth North Rare Earth and Gansu Rare Earth marks the implementation of China's requirements on promoting integration and reorganization of rare earth industry, and further establishing a more stable relationship in the capital level, which is bound to optimize the allocation of resources, increase industrial concentration and achieve a development of higher quality in China's rare earth industry with a positive and far-reaching impact. It is also a concrete measure to implement high-quality development requirements and promote supply-side structural reforms. It is a concrete response to the merger and integration of national rare earth industries and formation of an industrial structure led by large-scale enterprise groups. Based on the long-term development of rare earth new materials in Gansu Province, it is a realistic selection of solving the shortage of rare earth resource.
Northern Rare Earth Group owns the world's largest rare earth ore resources, while Gansu Rare Earth Group has leading-industry rare earth separation and smelting technology. Gansu provincial government agreed with the cooperation of Northern Rare Earth Group and Gansu Rare Earth Group, which will form strong alliances, filling in shortcomings of rare earth new materials resources in Gansu, promoting the high quality development of rare earth new materials in Gansu, effectively ensuring the interests of workers, providing the society with products of higher quality, realizing mutual benefit and win-win.
