China Northern Rare Earth (600111.SH)'s work of forming a large rare earth group has passed review by the authorities of Inner Mongolia Autonomous Region.
In June 2014, the government of the Inner Mongolia Autonomous Region approved the company's scheme of building a rare earth group. Later in July, the Ministry of Industry and Information Technology (MIIT) worked with other ministries to put the scheme on records.
Supported by relevant authorities, the company integrated eight rare earth smelting and separation enterprises in the region and rare earth resources in Gansu province, realized the goal of eliminating outdated capacities, and helped local governments crack down on illegal rare earth mining and production.
According to the local authorities, the company has basically completed the tasks set in the scheme and met the requirements for ratification. Earlier, Xiamen Tungsten (600549.SH) and Chinalco passed review in the work of forming large rare earth groups.
China Minmetals, Guangdong Rare Earth Corp, and China South Rare Earth Group still see ongoing work of forming large rare earth groups.
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