China cements rare-earths dominance with new global giantReutersNEW YORK: China has approved a merger of key rare-earths companies, creating a behemoth that will strengthen its control over the global sector it has dominated for decades. The entity will be formed through merging rare-earth units of government-owned companies including China Minmetals Corp, Aluminum Corp of China and Ganzhou Rare Earth Group Co, according to a stock exchange filing from China Minmetals Rare Earth Co. The government also controls production, granting annual quotas to the firms. Rare earth prices have surged this year as demand outpaced supply, while a power shortage exacerbated disruptions and a broad rally in commodity prices increased production costs. Neodymium and praseodymium -- two elements used in permanent magnets -- have surged to the highest in a decade.

Source: Bangkok Post December 23, 2021 09:34 UTC