Chinalco obtains rare-earth rights

The aluminum producer will take a controlling stake in a new venture

BEIJING - Aluminum Corporation of China Ltd (Chinalco), the nation's largest aluminum producer, will take a controlling stake in the rare-earth subsidiary of the State-owned Guangxi Nonferrous Metals Mining Group.

That's according to the chairman of Guangxi Nonferrous, Li Yangtong, who told China Daily that the companies have signed a preliminary agreement for access to resources in the Guangxi Zhuang autonomous region.