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2 Chinese rare-earth giants join forces as Beijing calls shots

Deal follows government plan to consolidate industry that holds economic leverage

A machine operates at a rare-earth mine in Inner Mongolia, China. The country produces 60% of the world's rare-earth metals.   © Reuters

BEIJING -- Two major Chinese rare-earth companies will work together to bolster a supply chain for industrially vital metals that can be used to put economic pressure on the U.S. and other nations.

China Northern Rare Earth (Group) High-Tech, a state-owned enterprise, has agreed to form a strategic partnership with Hong Kong-listed private-sector counterpart China Rare Earth Holdings. China Northern announced the deal on Sunday.

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