MP - China tightens grip on rare earths market - consolidating domestic assets

In a move intended to tighten China's grip over the pricing and production of rare earth metals, Beijing plans to consolidated much of the Country's production under one roof, according to a stock exchange filing from China Minmetals. By combining the rare earth divisions of Aluminum Corp of China (NYSE:ACH), China Minmetals, and Ganzhou Rare Earth Group, the Government feels China can improve its competitive position, after seeing global market share fall from 86% in 2014 to 58% last year. Small volumes of rare earth are instrumental in producing many of the products we use everyday, cell phones, catalytic converters, magnets, etc; however, they are also a necessary ingredient in the manufacturing of electric vehicle batteries. In June the Biden administration announced plans to protect supply chains, develop a domestic lithium battery industry, and begin to mine substantial quantities of rare earths. With prices rising, MP Materials (NYSE:MP) remains owner

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China tightens grip on rare earths market - consolidating domestic assets