China to Form Two Rare Earth Giants to Strengthen Pricing Power
- Beijing wants to keep dominance of critically important metals
- Strategic resources were in spotlight during U.S. trade war
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China is planning to create two rare earth mining giants in an effort to gain better pricing power in global markets, according to people familiar with the matter.
The government is aiming to eventually consolidate all its rare earth miners and processors into the two huge firms, one in the north and one in the south, the people said, asking not to be identified discussing a private matter.