According to the Shanghai Securities News report on June 29, as a hot candidate for the “three strong†rare earth in the south, China Aluminum Corporation is making efforts to expand Guangxi's rare earth business. The figure of China Aluminum Corporation has flashed.
The reporter learned from relevant channels in Guangxi yesterday that, led by Ding Haiyan, Vice President of China Aluminum Corporation and Director of China Rare Earth Company recently, he went to Hezhou, Guangxi Province to inspect the investment and development of rare earth industries. The local government of Hezhou clearly expressed its wish to jointly develop rare earth resources with Chinalco.
Hezhou owns the only legal rare earth smelting and separation enterprise in Hezhou, “Hezhou Jinyuan Rare Earth,†under the Guangxi Nonferrous Metals Group. According to the Hezhou Daily, Hezhou mayor Bai Xi said in the meeting that Hezhou is rich in mineral resources, but it has not yet been industrialized and scaled. Hezhou hopes to “use resources for industries†and introduce large companies and large groups to exploit and utilize advantageous resources. “Participating in the development of rare earth industries with Chinalco's aluminum industry is in line with Hezhou's future industrial development direction.†Bai Xi said.
Ding Haiyan said that China Aluminum, as the leading enterprise in the development of national integrated rare earth mineral resources development, hopes to combine the advantages of resources in Hezhou with the technical advantages of Chinalco.
Guangxi is a key development area for China Aluminum Corporation in the rare earth industry. Earlier, China Aluminum Corporation has signed a strategic cooperation agreement with the local government and Guangxi Nonferrous Metals Group, and plans to jointly develop resources. This time, the revisit of Chinalco's high-level executives was deemed by the industry as another sign that it continues to promote the rare earth business under the background that the southern rare earth industry must determine the "three strongest."
However, informed sources also revealed to reporters that even with the understanding of the local government, Chinalco also faces a series of problems.
According to reports, China Aluminum Corporation has not yet obtained mining rights in Guangxi. In the context of the current suspension of the issuance of rare earth mining permits, it may take a long time to apply for new permits. The "cooperation agreement" with Guangxi is currently limited to the framework, and many specific issues have not yet been resolved.
In addition, Guangxi’s own rare earth exploration work has not yet been completed. In other words, how much rare earth resources in Guangxi can be developed, in fact, there is no authoritative data to support this.
However, public information shows that there are 500,000 tons of ionic rare earths in Hezhou.
A person familiar with Chinalco's rare earth business told reporters that the actual reserves of rare earths in Guangxi are currently not perfect. Although some of the publicly available data recorded Guangxi’s rare earth reserves and also indicated “the second largest country in the countryâ€, the actual number of proven reserves is actually very small. This means that China Aluminum Corporation is actually facing operating risks. "If large-scale in-depth exploration, found that the actual reserves are not as abundant as planned, the significance of Chinalco's expansion into Guangxi will be greatly reduced." The source said.
It is reported that Guangxi’s rare earth resources are mainly ionic, and although its overall grade is similar to that of Jiangxi, some of Guangxi’s mines are monolithic quarries, which belong to the national regulations that prohibit mining. In the current market situation in which rare earth ore prices have doubled continuously, this part of the mine has regained its mining value, but the economic benefits it can generate are still unknown.
The reporter learned from relevant channels in Guangxi yesterday that, led by Ding Haiyan, Vice President of China Aluminum Corporation and Director of China Rare Earth Company recently, he went to Hezhou, Guangxi Province to inspect the investment and development of rare earth industries. The local government of Hezhou clearly expressed its wish to jointly develop rare earth resources with Chinalco.
Hezhou owns the only legal rare earth smelting and separation enterprise in Hezhou, “Hezhou Jinyuan Rare Earth,†under the Guangxi Nonferrous Metals Group. According to the Hezhou Daily, Hezhou mayor Bai Xi said in the meeting that Hezhou is rich in mineral resources, but it has not yet been industrialized and scaled. Hezhou hopes to “use resources for industries†and introduce large companies and large groups to exploit and utilize advantageous resources. “Participating in the development of rare earth industries with Chinalco's aluminum industry is in line with Hezhou's future industrial development direction.†Bai Xi said.
Ding Haiyan said that China Aluminum, as the leading enterprise in the development of national integrated rare earth mineral resources development, hopes to combine the advantages of resources in Hezhou with the technical advantages of Chinalco.
Guangxi is a key development area for China Aluminum Corporation in the rare earth industry. Earlier, China Aluminum Corporation has signed a strategic cooperation agreement with the local government and Guangxi Nonferrous Metals Group, and plans to jointly develop resources. This time, the revisit of Chinalco's high-level executives was deemed by the industry as another sign that it continues to promote the rare earth business under the background that the southern rare earth industry must determine the "three strongest."
However, informed sources also revealed to reporters that even with the understanding of the local government, Chinalco also faces a series of problems.
According to reports, China Aluminum Corporation has not yet obtained mining rights in Guangxi. In the context of the current suspension of the issuance of rare earth mining permits, it may take a long time to apply for new permits. The "cooperation agreement" with Guangxi is currently limited to the framework, and many specific issues have not yet been resolved.
In addition, Guangxi’s own rare earth exploration work has not yet been completed. In other words, how much rare earth resources in Guangxi can be developed, in fact, there is no authoritative data to support this.
However, public information shows that there are 500,000 tons of ionic rare earths in Hezhou.
A person familiar with Chinalco's rare earth business told reporters that the actual reserves of rare earths in Guangxi are currently not perfect. Although some of the publicly available data recorded Guangxi’s rare earth reserves and also indicated “the second largest country in the countryâ€, the actual number of proven reserves is actually very small. This means that China Aluminum Corporation is actually facing operating risks. "If large-scale in-depth exploration, found that the actual reserves are not as abundant as planned, the significance of Chinalco's expansion into Guangxi will be greatly reduced." The source said.
It is reported that Guangxi’s rare earth resources are mainly ionic, and although its overall grade is similar to that of Jiangxi, some of Guangxi’s mines are monolithic quarries, which belong to the national regulations that prohibit mining. In the current market situation in which rare earth ore prices have doubled continuously, this part of the mine has regained its mining value, but the economic benefits it can generate are still unknown.
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