China forms rare earths giant to protect global market dominance

Beijing has set up an industry-leading rare earth giant in a bid to bolster China’s dominance of global production as it comes under threat from rising output elsewhere.The move will enhance the sector’s long-term sustainability and competitiveness, and tighten China’s grip over the pricing and production of the internationally strategic minerals, analysts said.The newly formed China Rare Earth Group will control more than a third of mainland China’s rare earths mining industry.Its formation…

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