Baotou Steel rare earths 460 million yuan to buy Huamei rare earths high-tech stake

NetEase Finance April 6, Baotou Steel Rare earth 6th announcement said, the company is to cash way to invest 465.1516 million yuan, the acquisition of the Baotou Huamei rare earth High-Tech Co., Ltd. 66.7% of the equity.　　After the acquisition is completed, the company will hold a 100% per cent stake in the latter. Baotou Steel said that the company's smelter separation required 80% of rare earth carbonate rely on the supply of Huamei.　　It can further optimize the distribution of rare earths in Baotou steel and enhance the influence and control of rare earths to the North rare earth industry.　　Baogang Rare Earth also announced that the company's two Sino-foreign joint ventures-Inner Mongolia dilute Aoke Ni-MH Power Battery Co., Ltd. and Inner Mongolia dilute Aoke Ni-MH Battery Plate Co., Ltd. will be changed to domestic companies, and the latter by the former absorption merger.　　Baotou Steel 6th trading at 97.26 Yuan. Responsible Editor: NF058