Aluminum Corporation of China Limited signed a strategic cooperation agreement with SOLVAY Group on rare earth business


On Dec. 12 2011, China Rare Metals and Rare Earth Co., Ltd., a wholly-owned subsidiary of CHINALCO (601600.SH), signed a strategic cooperation agreement with RHODIA Group (member of the Solvay Group). According to this agreement, the two parties will develop a strategic cooperation in raw materials supply, technology, funds and service in the rare earth value chain. RHODIA Group is a member of SOLVAY Group (Belgium), of which main business includes development and manufacture of advanced rare earth application material that is applied in improving performance of electronic products and controlling emission of automobile.

Through the cooperation, China Rare Metals and Rare Earth Co., Ltd. will improve CHINALCO's rare earth industry platform, to form a rare earth industrial chain with resource extraction, refined smelting and separation, high-end downstream products, new technology research and development, and thus have the ability to participate in the global rare earth industry competition.

Currently, China Rare Metals and Rare Earth Co., Ltd has five subsidiaries including Chinalco Qingyuan Rare Earth Co., Ltd., Chinalco Rare Earth (Jiangsu) Co., Ltd. and Chinalco Guangxi Non-ferrous Rare Earth etc., of which rare earth resources and rare earth separating capacity with exploration right and mining right totals 34,700 tons/year.

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