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Economy

China to create rare-earths giant by joining three state companies

Beijing to tighten grip on market with SOE controlling 70% of domestic production

A rare-earths mine in Inner Mongolia, China. The country is the world's largest producer of the metals.   © Kyodo

CHONGQING, China -- China will restructure three rare-earths producers to create a state-owned company with a nearly 70% share of the domestic production quota for the metals that are essential to manufacturing high-tech products.

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