Rare earth revamp to be complete by June

The reorganization of China's six major rare earth groups is expected to be complete by the end of June, Vice-Minister of Industry and Information Technology Xin Guobin said on Friday.

The companies' core competence "will be enhanced", he said, "through closing down factories, weeding out and transferring outdated capacity.

"All the substantive restructuring will be finished by the end of June."