China National Rare Earth Co., Ltd., a subsidiary of Chinalco, and Rhodia Management and Management Co., a subsidiary of Solvay Group, signed a letter of intent on strategic cooperation on the 12th. According to the agreement, both parties will carry out a comprehensive strategic cooperation in the supply of raw materials, technology, capital, and services in the rare earth industrial chain in accordance with the principle of "combination of advantages, mutual benefit, and common development."
China Rare Earths Co., Ltd. is a wholly-owned subsidiary of China Aluminum Corporation and is a platform for China Aluminum Corporation to develop a rare earth industry. At present, an all-rare-earth industrial chain integrating environmental protection resource exploitation, fine smelting and separation, high-end downstream products, and new technology research and development reserves has been formed. It has a large-scale rare earth industry that has its own inherent advantages and participates in global rare earth industry competitiveness. The foundation of the enterprise group. In order to develop its high-end functional materials industry with a high starting point and high standards, the company actively communicates with target companies and adopts diversified capital operation methods to conduct all-round cooperation.
The Rhodia Group is a member of the Solvay Group and is a multinational chemical industrial group committed to sustainable development. It has a global leading position in the special chemicals business it operates. Rhodia's rare earth division is an important business unit of the Solvay Group and is committed to the development and manufacture of advanced applied materials based on rare earth elements. The products are mainly used to improve the performance of electronic products and control vehicle emissions. With 6 production bases in the world, annual R&D investment accounts for more than 7% of sales revenue. As an important global supplier of rare earth materials, this global division focuses on high growth markets and provides high performance products in vehicles such as exhaust catalytic converters, lighting and display phosphors, electronic material polishing, and electronic material formulations. And globalization services. At the same time, Rhodia's rare earths attach great importance to the market development in China, especially the development of downstream high-end functional materials in China.
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