Ganzhou Rare Earth Companies’IPO

In order to develop the structure of the rare earth industry in a way that is spearheaded by several key companies, increase the degree industrial concentration, and undertake intensive development, Jiangxi, endowed with rare earth resources, is set to support its well-performing rare earth enterprises to undertake IPOs. According to a source, Ganzhou Qiandong Rare Earth (Group) Co., Ltd., once a no.1 rare earth manufacturer and exporter for listing, is currently awaiting approval by the Issuance Examination Committee of CSRC.

Ganzhou Qiandong Rare Earth (Group) Co.,Ltd. claims to be the largest and most powerful rare earth manufacturer and exporter in the world. Consisting of 12 subsidiaries including Ganzhou Keli Rare Earth & New Materials Co., Ltd. and others, the company has an annual capacity of 2,500 tons of neodymium, 20 tons of terbium, 200 tons of praseodymium neodymium alloys and 250 tons of Dy-Fe alloy.Along with Ganzhou Chenguang Rare Earth &New Materials Co., Ltd. in the business area of heavy rare earth separation, the company is placed in tier 2 of potential companies in Ganzhou to be put to IPO. Chenguang has submitted all the documents required and is now awaiting the outcome. Founded on 17 November 2003 with a registered capital of RMB 39 million, Chenguang is a manufacturer specializing in rare earth, mixed rare earth and rare earth alloy series products. Ganxian Hongjin Rare Earth Co., Ltd. has been listed as a tier 3 potential mining company for the purposes of IPO submission. Founded in April 2001, Hongjin boasts total assets of more than RMB 0.3 billion and an annual ionized rare earth ore output of 4,000 tons. If these companies succeed in their IPO, Ganzhou will add to its number of listed companies, which currently stands at just one, namely Chongyi Zhangyuan Tungsten Co., Ltd.