Rare earth sector upgrade on the way

Two to three of China's six rare earth groups are to take the lead in evolving into major deep-processing companies, as the nation promotes efforts to raise the overall quality of its rare earth industry, said Vice-Minister of Industry and Information Technology Wang Jiangping.

"Rare earths are an important strategic resource. They are fundamental materials for updating traditional industries and developing emerging industries."

"The ministry is considering reinforcing the strength of the six rare earth groups, and encouraging them to form two to three deep-processing companies that take a lead in the industry."