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China Minmetals plans IPO for rare earth unit - paper

Shanghai, 3 November 2010

Chinese mining giant Minmetals plans to list its rare earth unit as the price of rare earth elements hit new highs amid supply worries, the China Business News reported on Wednesday, citing an unidentified source.

China Minmetals Rare Earth Co Ltd, which mainly produces the more expensive heavy rare earth elements in the Ganzhou area of Jiangxi Province, reported revenue of 1.98 billion yuan ($296.5 million) in 2009, the newspaper said.

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Reuters - for Commodities Now

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