Shenghe Resources agreed to sign the “Equity Acquisition Framework Agreement” of Xinyuan Rare Earth (Thailand) Co., Ltd.

Author: Xiao Qin organize Edit Date: 2018-09-20
 
On September 17, Shenghe Resources Holdings Co., Ltd. announced that Shenghe Resources intends to acquire the equity of Xinyuan Rare Earth (Thailand) Co., Ltd. held by Jiangxi Chenguang Investment Co., Ltd., and the acquisition ratio will be determined by both parties to ensure After the completion of the acquisition, the company became the largest shareholder of Thailand Xinyuan.

Thailand Xinyuan is mainly engaged in rare earth smelting and separation and metal processing business. At present, it has obtained China’s “Enterprise Overseas Investment Certificate”, Thailand Promotion Investment Committee (BOI) approval, business administration registration certificate, tax registration certificate, building permit and land certificate. And a series of important legal documents.

The Xinyuan project in Thailand is planned to invest 192 million yuan (US$30 million) to build a production line with an annual output of 2,000 tons of rare earth metals and alloy products and a supporting annual production line of 3,000 tons of rare earth oxides. The project is currently under construction and has not yet been put into production.

It is understood that Shenghe Resources Holdings Co., Ltd. is a listed company of the Shanghai Stock Exchange, the largest shareholder of the Institute of Mineral Resources Comprehensive Utilization of the Chinese Academy of Geological Sciences, a subordinate unit of the Ministry of Land and Resources . The company’s rare earth business is the core, and its main products include rare earth concentrates, rare earth oxides, rare earth compounds, rare earth metals, rare earth metallurgical materials, rare earth catalytic materials, zircon sand, titanium concentrate, rutile, etc., which are widely used in new energy sources. New materials, energy conservation and environmental protection, aerospace, military, electronic information and other fields.

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