Zhitong Financial APP learned that Chinese rare earths (00769) rose more than 5% in early trading and rose 5.26% to HK $1 as of press time, with a turnover of HK $18.0326 million.
On the news side, China rare earths announced that they had signed a strategic cooperation framework agreement with northern rare earths. The two sides will strengthen exchanges and cooperation in the existing rare earth industry and business, as well as cooperation on mines in the south and north of China. The two sides plan to carry out strategic cooperation in rare earth trade, rare earth deep processing and other related aspects to extend the rare earth cooperation industrial chain.
In addition, China rare Earth Group Co., Ltd. was officially established. China rare Earth Group is a large rare earth enterprise group established by Aluminum Corporation Of China Ltd Group Co., Ltd., China Minmetals Group Co., Ltd., and Ganzhou rare Earth Group Co., Ltd., in order to realize the complementary advantages of rare earth resources and the coordination of rare earth industry development, China Steel Research Technology Group Co., Ltd., Youyan Science and Technology Group Co., Ltd.