China names Chinalco director as head of new rare earths firm

BEIJING – China’s state assets regulator said on Friday Ao Hong, a director at state-run metals group Chinalco, had been appointed chairman of a new rare earths company combining three major producers of the minerals.

The State-owned Assets Supervision and Administration Commission (Sasac) also said Liu Leiyun, chairman of China Minmetals Rare Earth Co, had been nominated as general manager of the new China Rare Earth Group Co.

The new entity will combine China Minmetals Rare Earth with China Southern Rare Earth Group Co and Chinalco’s rare earths unit.

(Reporting by Beijing Newsroom; writing by Tom Daly; Editing by Andrew Heavens)