Baotou Steel Rare Earth called shareholder authorized to specialize in Inner Mongolia rare Earth resources before the end

Shanghai, August 10 (Reuters)----China Inner Mongolia baotou Rare Earth (group) high-Tech Co., Ltd. (600111.SS) announced in Tuesday that the Inner Mongolia Autonomous Region government will rectify the development of rare earth resources in the region, the company's major shareholder Baotou Iron and Steel Group approved by the end of 2010, the franchise in Inner Mongolia　　The announcement shows that recently, the Inner Mongolia Autonomous Region government issued a clear plan, scheduled from July 2010 to December, "to combat, integrate and manage" rare earth resources special action to further regulate the Inner Mongolia Autonomous Region Rare earth mining, mineral processing, smelting order.　　Program and clear, by the end of 2010, in the Inner Mongolia Autonomous Region to achieve the strategic resources of rare earths by Baotou Iron and Steel (group) Limited liability company franchise. The group holds a 38.92% per cent stake in Baotou Steel, which closed at 44.85 yuan in Monday and rose 22.24% per cent in the past one months.