Shenghe Resources (Chinese: 盛和资源) is a Chinese partly state-owned rare earths mining and processing company founded in 1998.[2][3] The company is listed on the Shanghai Stock Exchange and its largest shareholder is the Ministry of Natural Resources.[4] Shenghe Resources is affiliated with Aluminum Corporation of China, which maintains a seat on its board and is involved its strategic decision-making.[1]
Native name | 盛和資源控股股份有限公司 |
|---|---|
| Company type | Public; partly state-owned |
| SSE: 600392 | |
| Industry | Mining |
| Founded | 1998 |
| Headquarters | , |
Key people | Hu Zesong, chairman |
| Owner | Ministry of Natural Resources |
| Website | www |
| Footnotes / references [1] | |
History
editShenghe Resources, previously referred to as Taiyuan Technology Tiansheng Science and Technology Company Limited, was listed on the Shanghai Stock Exchange in May 2003.[5] In December 2012, TaiGong Tiansheng finalized the major asset reorganization plan by divesting all assets and liabilities to Shanxi Coke Group Co., Ltd. and issuing shares to the shareholders of Leshan Shenghe Rare Earth Co., Ltd. to acquire 99.9999% of the equity of Leshan Shenghe Rare Earth Co. In 2013, Leshan Shenghe Rare Earth Co., Ltd. executed a reverse takeover and adopted its current name.[6][7]
In 2016, Shenghe Resources purchased a 10 percent stake in Australian mining firm Energy Transition Minerals.[1] In 2019, the company partnered with China National Nuclear Corporation to import and process uranium and thorium from the Kvanefjeld mine in Greenland.[1] Shenghe Resources is a minority shareholder and the sole purchaser of MP Material's rare earth concentrate, mined from the Mountain Pass mine in California.[1][8][9]
In 2022, Shenghe Resources purchased a 20 percent stake in Australian mining firm Peak Rare Earths.[10][11] In 2024, the company acquired half of Peak Rare Earths' ownership in the Ngualla project in Tanzania.[12]
In 2023, Shenghe Resources purchased a 9.9 percent stake in Australian mining company Vital Metals and also agreed to buy its entire stockpile of rare earth materials from its Nechalacho mine in Northwest Territories.[13][14] In June 2024, the Canadian government blocked the sale of the stockpile on national security grounds.[15]
References
edit- ^ a b c d e Hui, Mary (February 19, 2021). "A Chinese rare earths giant is building international alliances worldwide". Quartz. Retrieved July 13, 2021.
- ^ "The Top Companies Behind the Rare Earth Industry". wirescreen.ai. The Wire China. Retrieved 2024-10-28.
- ^ "Shenghe Resources Holding Company Limited". wirescreen.ai. The Wire China. Retrieved 2024-10-28.
- ^ Bradsher, Keith (October 26, 2024). "China Tightens Its Hold on Minerals Needed to Make Computer Chips". The New York Times. Retrieved October 28, 2024.
- ^ ""奔跑"的稀土｜海内外稀土资源双布局，盛和资源股价为何"过山车"？". 财华网(财华社) (in Chinese). 2021-11-17. Retrieved 2024-10-28.
- ^ "盛和资源：海内外并购 志在成为稀土行业龙头". 证券时报网-证券时报官方网站，创业板指定信息披露平台 (in Chinese). 2019-08-07. Retrieved 2024-10-28.
- ^ "盛和资源：持续并购重组 实现全产业链布局". 证券时报网-证券时报官方网站，创业板指定信息披露平台 (in Chinese). 2019-08-07. Retrieved 2024-10-28.
- ^ "MP Materials Corp Form S-1 Registration Statement". U.S. Securities and Exchange Commission. 9 December 2020. p. 9. Retrieved 12 August 2021.
- ^ Hornby, Lucy; Sanderson, Henry (June 4, 2019). "Rare earths: Beijing threatens a new front in the trade war". Financial Times. Retrieved October 28, 2024.
- ^ Swagath, B. V. (2022-02-14). "Shenghe Resources to acquire 20% stake in Peak Rare Earths". NS Energy. Retrieved 2024-10-28.
- ^ Hui, Mary (April 4, 2023). "China is on a global hunt for rare earths". Quartz. Retrieved October 28, 2024.
- ^ "China's Shenghe to acquire half of Peak Rare Earth's Tanzania project". Reuters. July 23, 2024. Retrieved October 28, 2024.
- ^ Lamberink, Liny (December 19, 2023). "Once touted as solution to China in rare earth market, N.W.T. project now taking Chinese investment". CBC News. Retrieved October 28, 2024.
- ^ He, Fred (2024-01-22). "China is moving up the rare earth value chain. The West is trying to catch up". South China Morning Post. Retrieved 2024-10-28.
- ^ Lorinc, Jacob (June 17, 2024). "Canada Blocks Chinese Rare Earths Deal in Trudeau-Led Crackdown". Bloomberg News. Retrieved October 28, 2024.