- China Rare Earth Group Co has formed a rare earth joint venture with Shenghe Resources and Ji’nan Yuxiao Group in Guangxi, registering 800 million yuan ($118.05 million) in capital
- The rare earth joint venture will handle smelting of rare and rare-earth metals, sales of rare-earth functional materials and non-ferrous alloy manufacturing
- National Business Daily reported the filing on 13 July 2026, citing Tianyancha data, with details confirmed the same day by Global Times
- The structure pairs China Rare Earth Group’s upstream mine control with Yuxiao and Shenghe’s commercial channels and refining technology
- Guangxi has added 34 new strategic mineral deposits since a 395 million yuan exploration push under the 14th Five-Year Plan
- What to watch: formal registration filings confirming shareholding splits and production timelines for the rare earth joint venture
State-owned China Rare Earth Group Co has formed a rare earth joint venture with two private mining companies in China’s Guangxi Zhuang Autonomous Region, registering 800 million yuan ($118.05 million) in capital. National Business Daily reported the filing on 13 July 2026, citing Tianyancha data, with details confirmed the same day by Global Times.
Rare Earth Joint Venture Structure and Ownership
The rare earth joint venture brings together China Rare Earth Group Co, Shandong-based Ji’nan Yuxiao Group Co and Hainan-based Shenghe Resources (Hainan) Co, a subsidiary of Shanghai-listed Shenghe Resources Holding Co Ltd (SSE: 600392). The new entity will focus on smelting of rare and rare-earth metals, sales of rare-earth functional materials and manufacturing of non-ferrous metal alloys.
China Rare Earth Group Co was established in December 2021 in Jiangxi Province, founded by Aluminum Corp of China, China Minmetals Corp, Ganzhou Rare Earth Group Co, China Iron and Steel Research Institute Group and Grinm Group Corp, with a remit spanning exploration through deep processing. Shenghe Resources is a mixed-ownership rare earth extraction and trading specialist, and its Hainan subsidiary is one of two private partners in the rare earth joint venture.
Ji’nan Yuxiao Group Co, established in 1995 and headquartered in Shandong, describes itself as a global miner spanning zirconium-titanium, rare earths and graphite, with 13 overseas and 12 domestic projects and net assets exceeding 10 billion yuan at the end of 2025. The company holds more than 20 mining concessions in Mozambique, with proven zircon-titanium resources exceeding 100 million tons and graphite reserves exceeding 100 million tons, according to Global Times reporting on the rare earth joint venture filing.
Why This Rare Earth Joint Venture Fits China’s Domestic Consolidation Push
Wu Chenhui, an industry analyst quoted by Global Times, said the joint-stock structure allows more flexible operation by combining state-backed upstream mine control with the commercial channels and refining technology held by private mining companies. Wu said the rare earth joint venture gives its partners clearer direction and greater operational flexibility.
Guangxi is rich in rare earth deposits, and the region has recorded steady gains in strategic mineral reserves. Xinhua reported in May 2024 that a 395 million yuan exploration push during the 14th Five-Year Plan period added 34 newly discovered strategic mineral deposits in Guangxi, spanning rare earths, indium, antimony, tin and manganese. This rare earth joint venture fits a broader pattern of domestic consolidation among Chinese producers, as Beijing works to secure reserves at home against geopolitical risk to overseas supply, a trend also visible in USGS production data on China’s share of global output.
Shenghe Resources Holding, parent of one of the rare earth joint venture partners, also holds a stake in US-listed MP Materials and a long-term offtake agreement covering Mountain Pass concentrate, a relationship under scrutiny from US regulators. The Guangxi entity gives Shenghe a further domestic processing foothold, while China Rare Earth Group Co gains a private-sector partner with established smelting capacity in a resource-rich province.
What to watch next: formal registration filings and any public statement from the three rare earth joint venture partners confirming shareholding splits and production timelines. Corporate registry data from Tianyancha, the source for the initial report, typically lags formal announcements by days to weeks.
Who owns the new rare earth joint venture in Guangxi?
The venture is owned by China Rare Earth Group Co, Ji’nan Yuxiao Group Co and Shenghe Resources (Hainan) Co, a subsidiary of Shenghe Resources Holding. Exact shareholding percentages have not been publicly disclosed.
What will the China Rare Earth Group Guangxi entity produce?
The new company is focused on smelting of rare and rare-earth metals, sales of rare-earth functional materials, and manufacturing of non-ferrous metal alloys.
Why is Guangxi significant for Chinese rare earth production?
Guangxi has recorded steady gains in strategic mineral reserves following a state-backed exploration push, and hosts existing rare earth processing capacity alongside other strategic minerals.
How does this joint venture fit China’s rare earth strategy?
It combines state-backed upstream mine control held by China Rare Earth Group with the commercial channels and refining technology of private partners, part of a broader pattern of domestic consolidation.
Is Shenghe Resources connected to any Western rare earth producers?
Yes. Shenghe Resources Holding holds an equity stake in US-listed MP Materials and a long-term offtake agreement covering Mountain Pass concentrate, a relationship that remains under scrutiny from US regulators.
