China Rare Earth Group Talks to Buy Shenghe
China Rare Earth Group is reportedly in talks to acquire Shenghe Resources to consolidate state control over the sector. The potential deal could grant Beijing indirect influence over overseas assets including MP Materials.
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State-owned China Rare Earth Group is in talks to acquire SHENGHE RESOURCES HOLDINGS-A, two people familiar with the matter said on Monday morning. The consolidation move would tighten China's grip on the rare earths sector. The transaction would hand the state-backed buyer a 3% stake in MP MATERIALS CORP, which counts the United States Department of Defense as its largest shareholder.
