CHALCO and Guangxi Nonferrous,Grirem Signed Framework Agreement for Rare Earth Development

On March 12th,Aluminum Corporation of China Limited (CHALCO) and Guangxi Nonferrous Metals Group Co.,Ltd,Grirem Advanced Materials Co.,Ltd signed Cooperation Framework Agreement for Guangxi Rare Earth Development in Beijing.According to the Agreement,the three sides will jointly invest to set up a joint venture company,with vigorous support from Guangxi Government,together develop Guangxi's rare earth resources,actively build up South China Rare Earth Industrial Park,gradually develop a complete rare earth industrial chain with core competitiveness,expand,improve and upgrade Guangxi rare earth industry,in order to make greater contribution to the healthy and fast development of Guangxi economy and society.

CHALCO enjoys long term friendly cooperation relation with the government of Guangxi Autonomous Region.Grirem Advanced Materials Co.,Ltd is an engineering research center with the fullest production coverage,strongest R&D strength,and most concentrated talent team in China's rare earth industrialized technology R&D field.Guangxi Nonferrous Group is the only large nonferrous metal enterprise group with a complete industrial system covering mine prospecting,ore mining,ore-dressing,smelting and processing,material preparation,engineering design,and scientific research in Guangxi.The close cooperation among CHALCO,Guangxi Nonferrous Group and Grirem features strong complementary advantages,and boasts very vast cooperation prospects.