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Commodities

China consolidates 3 rare earth miners into 'aircraft carrier'

Beijing reworks supply chain, bracing for long-term tensions with U.S.

Rare earths are loaded onto trucks at a port in China's Jiangsu Province. China is bolstering its rare earth supply chain as tensions with the U.S. drag on.   © AP

CHONGQING -- China on Thursday announced the merger of three state-owned rare earth miners into a company that will control nearly 70% of the country's output of key metals.

The new entity, China Rare Earth Group, brings together the rare-earth operations of Aluminum Corp. of China, China Minmetals and Ganzhou Rare Earth Group. The last is under the government of the Jiangxi Province city of Ganzhou, an area rich in these metals.

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