China’s largest company specializing in rare earths, the China Rare Earth Group (CREG), is set to take over Guangdong Rare Earth, according to a media report. This will further advance the consolidation of the industry in China, the Taiwanese DigiTimes reports (paywall).
The state-controlled CREG was founded at the end of 2021 through the merger of several companies (we reported). The background to this is likely to have been the desire for more influence on pricing and the qualitative upgrading of the sector, as the merger also included two companies that develop technologies related to strategic raw materials.
In addition to CREG, the much larger China Northern Rare Earth Group – which owns the world’s most important rare earth mine, Bayan Obo – and the Xianmen Tungsten Cooperation remain as major market players.