China has approved a merger of key rare-earths companies, creating a behemoth set to strengthen its control over the global sector it has dominated for decades.
The entity will be formed through merging rare-earth units of government-owned companies including China Minmetals Corp., Aluminum Corp. of China and Ganzhou Rare Earth Group Co., according to a stock exchange filing from China Minmetals Rare Earth Co. The new group will accelerate the development of mines in the south, CCTV reported.