Al-Re-jiang Tungsten

September 27, the reporter from the Chinese Aluminum Company (hereinafter referred to as aluminum) learned that China and Jiangxi Sasac signed the "Jiangxi Rare Metals Tungsten Holding Group Co., Ltd. (hereinafter referred to as Jiang Tungsten Group) increase capital expansion of the shares agreement," stressed the focus on the development of rare earth resources.　　The agreement is a further cooperation agreement between the two sides following the signing of the Strategic cooperation Framework Agreement between Chinalco and the Jiangxi provincial government on March 13 this year.　　Chinalco to this reporter said that Chinalco will give full support and help Jiang Tungsten group belongs to "Jiangxi Rare rare earth metal Tungsten Industry Group Co., Ltd." and other enterprises listed. Under the approval of the Jiangxi provincial government, Chinalco will invest in Jiang Tungsten Group as its controlling shareholder by means of increasing capital and expanding shares.　　And in the next 3-5 years, Chinalco and its enterprises to Jiang Tungsten investment not less than 10 billion yuan, in order to achieve the total revenue of Jiang tungsten amounted to 50 billion yuan. Public data show that Jiang Tungsten Group is a large state-owned industrial group held by Sasac in Jiangxi Province, which has initially formed non-ferrous metal industry plates such as tungsten, molybdenum, bismuth, tin, rare earth, nickel and cobalt, recycled metals, and has more than 3 million tons of metals in reserves and control.　　By the end of 2009, Jiang Tungsten Group total assets of 11.146 billion yuan, 2009 to achieve sales revenue of 8.94 billion yuan.　　Chinalco said to our correspondent, Jiang Tungsten will become the important platform for the development of rare earths business, because Jiangxi Province is China's important rare rare earth resources and industrial province, rare rare earth metal is Jiangxi Province, "Twelve-Five" development planning, one of the pillar industries.　　Youqing, deputy general manager of Chinalco, said that rare earths as one of the main industries of Chinalco, is the focus of the development of Chinalco's plate.　　According to our correspondent understand that last year, Chinalco to enter the field of rare earths, specialized in the formation of rare Rare earth Co., Ltd., currently has been issued by the State administration of Industry and commerce business license. It is noteworthy that the Sino-aluminum into the Jiangxi rare earth business is the background of China's rare earth industry is carrying out large-scale integration, the enterprises have begun to enclosure in various regions, at present, the industrial policy has clearly focused on supporting the rare Earth, Minmetals Group, Jiangxi Copper Group as an integrated leader.　　Chinalco, once holding the company, will greatly expand its Rare-earth business map. According to our correspondent understand, in the development of rare earth business, the goal of Chinalco is "to build a core competitive rare earth industry platform, a state-level rare earth industry technology platform and capital market financing platform through structural adjustment, industrial integration and mergers and acquisitions, and to become a leading enterprise in China's rare earth industry and a strong competitive edge in the world The first-class enterprise of discourse power.