June 9 – Baotou Steel Union (600010) denied rumors that it has formed a joint venture with Pangang Group Steel Vanadium and Titanium (000629) to develop the world’s third-largest rare earth mine in Sichuan province, reports nbd.com.cn, citing a company filing.

The mine is rumored to have more than 400,000 tons of light rare earths with a post-development market value of more than 400 billion yuan. Shares of both firms were suspended yesterday, fomenting further speculation about the alleged investment.

Source:CapitalVue