Xiong Weiping, General Manger of CHINALCO, indicated that CHINALCO Rare Earth (Jiangsu) Co., Ltd. was jointly established by CHINALCO, 5 rare earth separation enterprises with directive production plan indexes and a trading company.

According to Xiong, The company will focus on technical researches on rare earth ore decomposition and refinement, etc, foster new industry of rare earth of strategic importance,extend intensive processing chain in compliance with development of rare earth industry of Jiangsu, improve and optimize the rare earth industry.

Luo Zhijun, Secretary of CPC Jiangsu Provincial Committee, considers that Jiangsu’s rare earth separation and smelting industry have experienced smooth development in recent years.Merger and restructuring will facilitate complete provisions of rare earth separation and smelting industry of Jiangsu, thereby creating new competitive edge.

CHINALCO is bellwether of China’s nonferrous metals industry. In recent years, aiming to build a complete target of rare earth industrial chain, CHINALCO has cooperated with Guangxi, Jiangxi, Guangdong and Fujian and given full play to resource advantages of local provinces and the advantage of CHINALCO as a state-owned enterprise, signed a set of strategic development agreements, obtained basic resource guarantee according to law and increased industrial concentration degree of iontype rare earth in south China.