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Ministry of justice thorough investigation of rare earth illegal, rare earth leader is still good?
Update Time : 2017-05-17 View : 151
In conjunction with the Ministry of development and Reform Commission, Ministry of Finance and the Ministry of land and resources and other departments on Tuesday (May 9th) held a meeting, officials said, will further increase the coordination of efforts, Joint Disciplinary illegal enterprises, the relevant departments will be composed of 23 groups of inspectors to carry out inspection related province (area).
In November 2016, 23 provinces (regions) the relevant departments to carry out a comprehensive verification on the area of rare earth mining, smelting separation and comprehensive utilization and trade enterprises, check the 415 types of enterprises, found 61 illegal clues, have been dealt with according to law 23, and another 38 are being processed.
Through the rectification of the order of rare earth industry, the production and management situation of rare earth industry has been improved. In the first quarter of this year, the main business income of rare earth industry grew by 21%, and profits grew by 29%. At the end of April, lanthanum oxide, neodymium oxide, terbium oxide and other product prices grew by 35%, 5%, 31%.
On the Hong Kong stock market, rare earth business accounted for China's rare earth (00769) the bulk of the overall income. The report shows that, in 2016, Chinese rare earth product revenue of approximately HK $436 million, fell about 13% year-on-year, accounting for about 62% of total revenue in the period, the company reduced the amount of rare earth business division, so changed in the past few years the negative gross margin, net loss narrowed to about 60% to HK $104 million.
As of 15:53 on May 12th, China rare earth reported 0.54 Hong Kong dollars, or 1.82%.
Smart finance by combing found that in addition to China rare earth, Minmetals resources in Hong Kong (01208), Xinjiang mining (03833), Jiangxi copper (00358) were related to the rare earth business.
Source: Sohu
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