Establishment preparation of China Rare Earth Industry Association has entered into final stage and will be finished by the end of 2011 hopefully. It is expected that the potential president will probably be Gan Yong, the Chairman of China Iron & Steel Research Institute Group, who has been designated as the director for preparation of the association.

As the only listed downstream company of China Iron & Steel Research Institute Group, Advanced Technology & Materials Co., Ltd (AT&M) (000969.SZ) will definitely directly benefit from its substantial shareholder’s rare earth expansion strategy and association policy support.

In addition, Weishan Rare Earth Technology Industrial Park, which was purchased by China Iron & Steel Research Institute Group, covers NdFeB project. Considering the horizontal competition, rare earth industry of CISRI and AT&M is strongly expected to be integrated in the future.

Operation of Main Holding Companies of China Iron & Steel Research Institute Group, 2010 (RMB mln)

Source: China Iron & Steel Research Institute Group; ResearchInChina