MIIT Releases the List of the First Enterprises that Meet Access Conditions of the Rare Earth Industry to Be Announced

On November 12, the Ministry of Industry and Information Technology (MIIT)released the list of the first enterprises that meet the access conditions of the rare earth industry to be announced. Enterprises on the list have solid strength. Among them is a subsidiary of Baotou Steel Rare-Earth Hi-Tech Co. Ltd. In industry insiders’ view, such a high standard reflects competent departments’ efforts and determination to regulate the rare earth industry, and the current situation of small operating scale, scattered distribution and disorder in the rare earth industry is expected to be reversed.

There are only seven enterprises on the list. Zibo Baosteel Lingzhi Rare Earth Hi-tech Co.,Ltd. is one of them. Public data show that the company is a subsidiary of Baotou Steel Rare-Earth Hi-Tech Co. Ltd.

On the list is Gansu Rare Earth New Materials Co., Ltd. The company was initiated by Golden Panda Rare Earth Co., Ltd., a subsidiary of Gansu Rare Earth Group as principal sponsor,and set up by seven shareholders including China Huarong Asset Management Corporation. Enterprises on the list also include Dingnan Dahua Advanced Material Resources Co.,Ltd, Ganxian Hongjin Rare Earth Co., Ltd,Zibo Baosteel Lingzhi Rare Earth High-tech Co., Ltd., Zibo Jia Hua Advanced Material Resources Co., Ltd. (ZAMR), and Jinzhou Kunhong New Material Industry Co., Ltd. These companies are also of considerable size, with solid technical strength.