Mergers in rare earth industry to be promoted

Rare earth will be included as one of the industries promoting mergers and acquisitions (M&As) in the second half of this year, said Li Yizhong, head of the Ministry of Industry and Information Technology (MIIT), on Thursday, the Beijing Business News reported.

He said M&As of enterprises will also be promoted in energy-intensive sectors such as iron and steel, aluminum and cement. Industries of automobile and machinery manufacturing were also included to echo the country’s target to save energy and reduce emissions.

The existing problems in the rare earth industry make it urgent to consolidate the sector through mergers and acquisitions, the report said.
(Source:chinadaily)