Chinese company buys part of Australian rare earth company with 180 million yuan!Australian media stir up trouble


“The Middle East has oil and China has rare earths.” The importance of rare earths need not be overstated.China is a heavyweight player in the field of rare earth. It is no. 1 in reserves, production and sales, and no. 1 in processing and smelting technology.Therefore, every move of China’s rare earth enterprises has been highly concerned and hotly discussed by the outside world…On Feb. 11, for example, Shenghe Resources, a Chinese company, announced that it would buy a 19.9 percent stake in PEK, an Australian-listed company, for 39 million Australian dollars.PEK’s two main projects are the Ngualla rare earth mine in Tanzania and the Teesside refinery it plans to build in the UK, according to the announcement.On February 14, The Australian media made a fuss over the normal commercial acquisition cooperation, saying that if the Chinese company successfully completed the acquisition, China would further control the lifeblood of global rare earth supply and gain a greater say.Some people refuted that the Australian media had too much respect for PEK and too much face for Australian companies. Even without the purchase of PEK’s shares, China is now playing a strong role in the global rare earth industry, which should not be underestimated by outsiders.After all, rare earths are precious and expensive, and owning them can only make a big dent in the pocketbook.For example, Australia’s Lynas Mining, the world’s second-largest rare earth producer, saw its net profit after tax jump nine-fold to 40.606 million Australian dollars (about 190 million yuan) in the first six months of fiscal 2021.At the time, Australia set a target of supplying 10 per cent of the world’s rare earths.Now other Australian companies are holding back. Of course, the Australian media can’t stand it. It’s understandable but unnecessary for them to vent their discomfort.Because the advantage of China’s rare earth industry is incomparable.As early as in the 1970s, Xu Guangxian, the father of Rare earth in China, finally achieved a major breakthrough in rare earth separation technology through continuous attempts. Later, he handed over the whole set of patented rare earth processing technology to Chinese rare earth enterprises for free, enabling China to quickly establish a rare earth industry chain.Fifty years later, China’s rare earth separation technology is still 5 to 10 years ahead of foreign countries, and Australia cannot catch up in the short term.As early as Last March, the United States wooed Japan, India and Australia to cooperate in rare earth production and share rare earth production technology and development funds, but there has been little progress so far.China, on the other hand, is making strides toward creating world-class rare earth companies, and there is good news.On December 23 last year, China Rare Earth Group Co., Ltd. was formally established, which will own 70% of China’s annual heavy rare earth and 40% of the light rare earth, which means that a Global dominant Chinese rare earth enterprise is expected to emerge, and China’s voice in the international rare earth supply chain will be greatly enhanced.Topic | | wen li plutonium Zeng Yi umpire | li plutonium

Leave a Reply

Your email address will not be published.